USAID Supports Entrepreneurship in Azerbaijan

Participants discussed recommendations for improving Azerbaijan’s entrepreneurial environment in key areas.
Participants discussed recommendations for improving Azerbaijan’s entrepreneurial environment in key areas.
Vugar Naghiyev/USAID

For Immediate Release

Thursday, May 1, 2014
USAID/Azerbaijan
(+99412) 498-18-35

On May 1, 2014, stakeholders gathered for the “Development of Entrepreneurship in Azerbaijan” conference at the Baku Hilton.

Participants discussed recommendations for improving Azerbaijan’s entrepreneurial environment in eight key areas: electronic registration of business entities; construction permits; connection to the electric power network; state registration of property rights; the provision of loans; corporate governance; import-export operations; and bankruptcy. Conference participants recommended reducing the number of procedures, amount of time, and cost for the eight areas mentioned above.

Participants developed these suggestions to support the March 3, 2014 Azerbaijani Presidential Decree on Additional Measures for Entrepreneurship Development. The implementation of these measures will improve the operating environment for Azerbaijani business owners, permit entrepreneurship to flourish, and raise Azerbaijan’s rankings in relevant international indices (including the World Bank's "Doing Business” report).

U.S. Embassy Azerbaijan Chargé d’Affaires Dereck Hogan welcomed the participants and noted the U.S. government’s support for recent Azerbaijani government efforts to support innovation and entrepreneurship. “We support this effort because it contributes to the Vision 2020 plan’s economic diversification goal,” Chargé Hogan said. 

The alliance of six Azerbaijani think tanks implementing the U.S. Agency for International Development (USAID)-supported “Micro Enterprise Support Project” presented a package of specific proposals at the conference. The alliance consists of the Entrepreneurship Development Foundation, Economic Research Center, Support for Economic Initiatives, Small and Medium Enterprises Development Support Center, World Carpet Association, and Bridge to the Future. The alliance will present the proposals to the Government of Azerbaijan in the near future.

Representatives from government agencies, private sector, international organizations, civil society, and think tanks participated in this event organized with support from USAID. 

Last updated: October 31, 2014

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