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Azerbaijan Government delivers a presentation of Doing Business-2009

12 September 2008 11:57 (UTC +04:00)

Heydar Babayev, the Minister of Economic Development, said it is a good achievement that Azerbaijan jumped to 33 on the list from 96 last year.
â€œSuch a jump was not been seen in the Doing Business series ever. At present the private sector accounts for 84% of GDP and this ratio will keep going up by this year-end. The report took into account reforms done in the country. Azerbaijan ranked higher in 7 of 10 indicators of business regulation and the positions for the rest indicators shouldnâ€™t be considered negative but potential. The joint efforts will help the countryâ€™s successes and increase foreign investorsâ€™ interest in Azerbaijan,â€ he noted.
Shahbaz Mavaddat, the IFC regional director, added that Azerbaijan plans to further accelerate reforms which will increase revenues and cut down expenditures.
According to him, the country set up a one-stop shop for business startup in January, halving the time, cost, and number of steps required to start a business.
As a result, business registrations increased by 40 percent in the first six months of its operation.
Fikrat Mammadov, the Minister of Justice, spoke of judicial reforms, saying there have been fundamental changes and new instances of court, including economic court were established over the past 8 years.
Fazil Mammadov, the Minister of Taxes, touched upon tax reforms, adding that 32 000 businesses were registered through the single-window for business registration since January 1. He added that tax reforms will go on.
Elman Rustamov, Chairman of the National bank of Azerbaijan, said Azerbaijan managed to be a high-income country, reduce poverty and have good economic growth.
â€œThere have been good achievements in the banking sector over the past 5 years and some indicators increased by 10-fold. The banking sectorâ€™s coverage over the non-oil sector rose to 80% from 16%. Banks attracted in total $2 billion from foreign institutions. Besides, one of two state-owned banks was privatized,â€ he noted.
According to him, the Financial Services Development Project between the World Bank and the Government of Azerbaijan will cover 1 200 post offices.
Arif Garashov, Chief of the State Real Estate Registry Service, said Azerbaijan jumped to 9 on the list from 63 last year for the indicator of Registering Property.
â€œ83 400 properties were registered over the 8 months of this year, up 21.6% on the same period last year,â€ he noted.
Ziyad Samadzade, chairman of the parliament commission for economic policy, added that the protection of property rights gives impetus to the improvement of the economy.

He added that the Competition Code is at the parliament for the third reading.
â€œParliament will soon begin to discuss the Bill on Special Economic Zonesâ€ he noted.
Alekber Mammadov, President of Azerbaijan Entrepreneursâ€™ (Employersâ€™) Confederation, added that businessmen have become more durable to competition and the number of business is growing day by day.
He expressed satisfaction with the results in the report.