Opportunities and constraints for private sector development

A meeting was held today between the members of the Azerbaijan Entrepreneurs Confederation and the International Finance Corporation (IFC). The meeting was dedicated to “Opportunities and limitations for private sector development”.

Mr. Zakir Nuriyev, Vice-President of the Azerbaijan Entrepreneurs Confederation welcomed the delegation and entrepreneurs of the International Finance Corporation and thanked the IFC delegation for holding the meeting.

Mrs. Niharika Sachdeva, head of the CPSD Working Group, said that the main purpose of the delegation’s visit was to discuss with the entrepreneurs the priority areas of the private sector in the non-oil sector and to invest in these areas.

Also, Ms. Niharika Sachdeva positively evaluated the recent reforms in our country and spoke about the challenges and challenges that entrepreneurs have faced in other areas. She offered to exchange views on the work to be done to address these problems.

The discussions covered the following areas:

• Problems faced by entrepreneurs as a result of recent legal reforms in the country and their solutions;
• Opportunities to compete under relevant reforms;
• Difficulties in accessing financial resources;
• Low-cost and short-term sources of funding;
• The insecurity of foreign investors on the domestic market; carrying out educational activities to give them more comprehensive information on the current state of the domestic market and reforms;
• Lack of qualified personnel, etc.

Entrepreneurs shared their views on these problems. Also, they said the high cost of products negatively impacts their competitiveness, and logistics prices play a special role in cost.

Our entrepreneurs, who share perspectives with IFC in several areas for investing in Azerbaijan, have come up with arguments that will appeal to foreign investors.