Discussions about World Bank's "Business Ready" (B-READY) report were held
A meeting of the Business Bankruptcy Working Group of the Commission on Business Environment and International Ratings was held at the Center for Analysis of Economic Reforms and Communication (CAERC). At the event, Vusal Shikhaliyev, head of the Secretariat of the Commission for Business Environment and International Ratings, judge of the Baku Court of Appeal, Ramin Garagurbanli, head of the "Business Bankruptcy" Working Group, Judicial-Legal Council, Central Bank, Supreme Court, Bar Association, Center for Legal Expertise and Legislative Initiatives, Justice and relevant executives of the Ministries of Economy, representatives of private sector companies "BM Morrison Partners", "Ekvita" and "Pricewaterhouse" participated.
Ramin Garagurbanli, head of the working group, gave a speech and informed about the priority tasks facing the working group and the work done in the past period in connection with the further development of the field of business bankruptcy.
It was noted that our country has been closely cooperating with the World Bank for many years, and joint important projects that are appreciated in the world are being implemented in various directions. In this field, the "Business Bankruptcy" Working Group, in accordance with its mandate, also presents proposals in the field of assessing the current situation in the field of bankruptcy, specializing judges who hear bankruptcy cases among judges operating in commercial courts, takes the initiative to issue institutional and legislative proposals on bankruptcy, and studies international experience. and involves relevant foreign experts for the purpose of implementation.
At the event, Arne Engels, an international expert on bankruptcy attracted from Germany by the World Bank in order to evaluate the bankruptcy procedure in our country, change the existing legislation taking into account international experience, and make the business environment more favorable, was presented to the members of the Working Group.
At the same time, at the meeting, the responses to the questionnaire prepared by the World Bank Group on the "Business bankruptcy" indicator of the "B-READY" report, the implementation status of the Road Map for 2022-2023 were discussed, certain changes were made among the members of the working group, and future activities measures have been determined.
It should be noted that the World Bank presents an international assessment report called "Business Ready" starting from 2022. In preparation of this report, new accountability mechanisms and international assessment tools are being implemented to improve private sector development and the business environment. One of the indicators of that report is called "Business bankruptcy".
Sector director of the Monitoring of socio-economic programs
Head of the Monitoring and evaluation division
Executive director of CAERC