New Registration Means New Businesses Can Open in Only 12 Days in Azerbaijan

Business Materials 17 August 2007 17:01 (UTC +04:00)

Azerbaijan, Baku /corr. Trend I.Khalilova / To improve the business climate, the Ministry of Economic Development of Azerbaijan has devised proposals to simplify the procedure of business registration which will provide an opportunity to decrease business registration time by more than four times. The number of the procedures are planned to be decreased from the current fifteen to six and registration time from fifty-three to twelve days, said the Chief of the Ministry's Entrepreneurship Development Department, Samir Nuriyev, on 17 August.

The action plan devised by the 30 April 2007 Presidential decree on establishment of the 'one window' system for the entrepreneurship development envisages not only decreasing the number of the procedures, but also the period of time for receiving permits to begin activity.

According to Nuriyev, the action plan will be submitted to the Cabinet of Ministers at the beginning of September.

According to the joint World Bank and IFC report, DoingBusiness-2007, Azerbaijan ranks ninety-ninth in a general rating of 175 countries (an increase of twenty countries as compared to last year) for the level of simplicity of terms for conducting business.