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World Bank Urges Not to Invest Budget Money in Private Sector
"Azerbaijan should find options to create more favorable conditions for business activity, and the World Bank is ready to assist the country needed help for a timely response to these challenges," said the head of the local representation of the WB Larisa Leshchenko on today's presentation "Amendments a methodology for the development of the report Doing Business" for government agencies.
According to her, the challenges faced by the official Baku are not unique, as they are faced by all countries with natural resources, because the receipt of oil revenues through exports does not "have to wrestle with." "In Azerbaijan there are areas that will take time to solve existing problems, and our experts will offer their own versions of solutions for the development of private enterprise. In particular it is necessary to remove barriers to the development of the private sector and reduce dependence on oil revenues," she believes.
The head manager believes that in the last 4-5 years the private sector in Azerbaijan is funded mainly at the expense of public funds, but it is time to reform the system and to ensure not only self-financing, but also the financing of public projects at the expense of the private sector. --17D-
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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