WB and IFC Preparing New Annual Ranking of Doing Business in Azerbaijan

On September 9 Baku will host a joint mission of the World Bank (WB) and the International Finance Corporation (IFC) within the framework of updating the indicators of Azerbaijan in the annual Doing Business ranking.

During the meetings of the representatives of these institutions with the representatives of the country's leadership, the IFC representative in Azerbaijan Aliya Azimova declared readiness to support the development of the non-oil sector. According to her, there is also the intention of the government of Azerbaijan to implement measures for the development of the private sector.

The sector chief of the Presidential Administration Elkhan Mikayilov noted that this is due to the creation of a new economic model, which should be integrated into the global value chain, leading to the creation of competitive enterprise and the production of competitive goods.

For clarity, the leading specialist on the consultative program of reforms associated with the preparation of the Doing Business report of the World Bank and the IFC, Melissa Metz, made a presentation on Development, Diversification and Integration of Industrial Applications in the Global Value Chain.

Recall, according to the results of last year's Doing Business – 2016, Azerbaijan took the 63^rd place in the ranking with 67.8 points out of a possible 100. The best indicator (7^th place) was on creating the conditions for starting a business. In the area of obtaining permits for the construction it took the 114^th place (+24 positions to the same parameters), in connection to the electricity supply system it took the 110^th place (-6), in registering property - 22 (-1), in receiving credits - 109 (-4), in protection of minority shareholders - 36 (+18), in payment of taxes - 34 (-1), in international trade - 94 (-1), in the enforcement of contracts - 40 (the same), and in the resolution of insolvency - 84 (+1).

189 countries participate in the rating. --17D-