The Executive Director of the Center for Analysis and Communication of Economic Reforms (CAERC), Vusal Gasimli, presented a special publication dedicated to the reforms implemented in connection with the Doing Business report at a business luncheon of the American Chamber of Commerce in Azerbaijan (AmCham).

Vusal Gasimli stated that the deep and systematic economic reforms carried out under the leadership of Ilham Aliyev once again demonstrated tangible results in the first quarter of the year: GDP grew by 2.3%, non-oil GDP by 2.9%, non-oil exports by 35%, and strategic foreign exchange reserves increased by USD 2.2 billion. In addition, achievements were recorded in the balance of payments, consolidated budget balance, stability of the manat, and maintenance of single-digit inflation. The sustainable and balanced economic growth ensured by these reforms provides the material foundation for political independence, state-building, military strength, social welfare, socio-political stability, and Azerbaijan’s participation in international and regional projects.

He further emphasized:“Having once again gained the high trust of the people, President Ilham Aliyev stated in his inauguration speech that economic reforms will be deepened. Efforts aimed at improving the business environment, implementing institutional and structural reforms, and strengthening state support for the economy are continuing in a systematic manner.Over the past year in particular, breakthrough reforms equivalent to a leap have been implemented across 10 Doing Business indicators. Currently, starting a business requires only two procedures and two days, including employee registration. In the area of construction permits, the operation of the ‘One-Stop Shop’ at the Baku City Executive Authority, the introduction of online applications, and the provision of technical conditions by ASAN Kommunal have reduced the number of procedures from 21 to 9. For access to electricity, the number of procedures has been reduced from 7 to 2, and the time required from 69 to 20 days, with the introduction of an electronic map, a unified tariff, and online application facilities.The property registration process has been accelerated and now involves only one procedure, as notaries have been integrated with the State Service for Registration of Real Estate. The launch of a private credit bureau and a movable property registry, as well as the provision of state guarantees on loans, have expanded access to finance. Amendments to the Civil Code to strengthen the protection of small investors’ rights, and changes to the Law on Insolvency and Bankruptcy under the ‘Resolving Insolvency’ indicator, are among the key Doing Business reforms.Over the past year, progress has also been achieved in tax administration: the VAT refund period has been reduced from 45 to 20 days, and a 30-day timeframe has been set for desk audits. The introduction of the green corridor at customs and, for the first time globally, an online single export application system in Azerbaijan are also major Doing Business reforms. Reforms in the electronic judiciary system—such as electronic payments, electronic protocols, electronic enforcement orders, and electronic cabinets—will further strengthen Azerbaijan’s position under the ‘Enforcing Contracts’ indicator.”

The Center for Analysis and Communication of Economic Reforms has prepared and distributed the special publication covering the Doing Business reforms in Azerbaijani, English, and Russian. The economic reforms implemented under the leadership of President Ilham Aliyev are crucial for optimizing the structure of the economy in the post-oil era and securing Azerbaijan’s достой place in the global division of labor. The strategic road maps that form the backbone of these economic reforms are being successfully implemented.

The event was attended by up to 200 AmCham members, representatives of the diplomatic corps, and foreign guests.