The Center for Analysis of Economic Reforms and Communication of the Republic of Azerbaijan, jointly with the Academy of Public Administration under the President of the Republic of Azerbaijan, organized a roundtable discussion entitled “Economic Reforms in Azerbaijan: Achievements and Prospects.”

The discussion was opened with introductory remarks by the Rector of the Academy of Public Administration, Academician Urkhan Alakbarov. Speaking on the topic “Economic Reforms in Azerbaijan and the Formation of Human Capital: Process and Outcome,” the Rector stated that through the successful development and application of innovative—often unique—management technologies within a short period, Azerbaijan has advanced to the ranks of global leaders. He emphasized that these processes are grounded in the development of human capital and in President Ilham Aliyev’s concept, voiced at the 2003 World Summit, of transforming “black gold” into “human gold.”

He noted that, pursuant to the relevant Presidential Decree, the Academy—recognized as a leading educational and analytical center—provides education to bachelor’s, master’s, and doctoral students, while also delivering training and retraining programs for nearly 2,000 civil servants annually. In addition to the Academy’s faculty members, senior officials of the Presidential Administration, ministers, chairpersons of state committees, as well as prominent scholars and intellectuals, participate in these training sessions. The report analyzed Azerbaijan’s position among global leaders in terms of sustainable development indicators—identified as a key priority of the 21st century—based on international organizations’ reports.

Subsequently, the Executive Director of the Center for Analysis of Economic Reforms and Communication, Vusal Gasimli, stated that economic reforms in Azerbaijan are yielding tangible results. Although GDP declined in 2016 due to the sharp fall in oil prices and recession in major trading partner countries, the economy is adapting to the new reality in 2017, and full economic recovery is expected from 2018 onward.

He highlighted that the major achievements of 2017 include positive changes in the balance of payments, stability of the national currency, approximately one-third growth in non-oil exports, an increase in strategic foreign exchange reserves, and improved expectations among businesses and households. Reforms will continue across nine sub-indicators of the “Doing Business” index. Within the framework of the Action Plan, particular emphasis is placed on reforms related to construction permits, access to electricity networks, property registration, access to credit, protection of minority investors, tax payments, cross-border trade, enforcement of contracts, and business insolvency procedures. The establishment of a Credit Guarantee Fund will facilitate access to credit resources and enhance financing for the economy. Overall, the implementation of the Strategic Road Maps is positively contributing to a new cycle of economic development.

Chairman of the Committee on Economic Policy, Industry and Entrepreneurship of the Milli Majlis, Academician Ziyad Samadzade, emphasized that the economic reforms, reconstruction, and development efforts undertaken in recent years have produced significant results. According to him, as in the rest of the world, Azerbaijan needs to further deepen its economic reforms. While forecasting development up to 2050, it is possible to plan not only for the oil sector but also for agriculture, construction, and infrastructure projects. He added that reducing poverty from 51% to 5%, growth in employment dynamics, regional development, and the successful implementation of strategic programs have created a solid foundation for further deepening economic reforms.

Vice President of the National Confederation of Entrepreneurs (Employers) Organizations of the Republic of Azerbaijan, Vugar Zeynalov, also shared his views during the roundtable. In his opinion, several industrial parks and agro-parks have been established during the reform process, revitalizing the business environment and fostering entrepreneurship. Enterprises based on high technologies and producing competitive goods have been launched in the regions, meeting domestic demand and strengthening export potential in a number of areas.

Professors and students of the Academy of Public Administration under the President of the Republic of Azerbaijan also joined the discussions.

It should be noted that the Center for Analysis of Economic Reforms and Communication will continue organizing a series of events on this topic. The objective is to communicate the reform process more broadly to the public, facilitate direct dialogue, enhance awareness and public understanding, strengthen public–private dialogue, and ultimately deliver accurate and consistent messaging to society.