More than 100 international and Azerbaijani companies attended the AHK Foreign Business Reception
On September, 23, 2021, the German-Azerbaijani Chamber of Commerce officially launched its stand-alone publication “Foreign Business in Azerbaijan” at the AHK Foreign Business Reception. This unique business event, organised in cooperation with the Ministry of Economy and AZPROMO, hosted the Minister of Economy, Mikayil Jabbarov, and brought together more than 100 participants, including international institutions, and top-tier foreign business representatives to discuss the results of the Business Climate Survey 2021, conducted by AHK Azerbaijan.
Executive Director of the AHK Azerbaijan, Tobias Baumann, opened the event by expressing his gratitude to all the participating companies both in the survey and at the event. He then highlighted the importance of such initiatives in assessing dynamics in the operation of foreign businesses in Azerbaijan and in enhancing the public-private dialogue to chart the best way forward.
In his welcoming notes, Chairman of the Board of AHK Azerbaijan, Mr Farid Isayev, expressed his appreciation over the quality and the intensity of existing business relations between AHK Azerbaijan and the Ministry of Economy. In light of this and of the emerging interest of German companies in participating in large-scale infrastructure and energy projects in the economic zones of Karabakh and Eastern Zangezur, Mr Isayev stressed that the cooperation between the two institutions should be encouraged and further deepened.
Speaking at the event, Minister of Economy Mikayil Jabbarov said that the report "Foreign Business in Azerbaijan: Business Environment Survey 2021" published by the German-Azerbaijani Chamber of Commerce is a useful platform for identifying and analyzing the impact of the pandemic on the economy, as well as assessing the effectiveness of ongoing reforms. He stressed the importance of such publications in terms of understanding the views of the business community and assessing the challenges that they face. The Minister spoke about the work done to improve the business and investment climate in the country, the development of the non-oil sector, regions and entrepreneurship, the impact of the pandemic on the business environment in Azerbaijan and government support mechanisms, logistics capabilities of industrial zones and Alat Free Economic Zone. Moreover, Mikayil Jabbarov emphasised new business and investment opportunities in the liberated territories of Azerbaijan, mentioned the concept of "smart city" and "smart village" to be implemented in these areas, and stressed the strategic importance of Aghdam Industrial Park and the creation of a new industrial zone in those areas.
Following this, Deputy Executive Director of AHK Azerbaijan, Ms Nigar Bayramli presented key findings of the Business Climate Survey 2021. Nigar Bayramli, explained: “Although the survey was conducted amid lingering external and internal challenges, some encouraging signals were received from the international businesses. The liberation of the previously occupied territories in Karabakh and Eastern Zangezur economic regions paves the way for ensuring presence of international companies there with a view in taking part to the large-scale economic revival. This together with the strong commitment to implement challenging reforms across the economy, is expected to act as a catalyst in supporting a structural transformation of the economy and attracting foreign investments moving forward.”
The participants had then the chance to ask their questions.
Following the presentation and discussion, the event was concluded with a networking lunch. The reception was held in the premises of Baku Marriott Hotel Boulevard in strict compliance with all requirements of a special quarantine regime and recommendations for safety and health measures.
About the Foreign Business in Azerbaijan: Business Climate Survey 2021
Foreign Business in Azerbaijan: Business Climate Report 2021 is a standalone publication of AHK Azerbaijan developed and published in cooperation with KPMG Azerbaijan. The Report, shaped by the findings of the online survey conducted in May-July 2021, reflects the feedback on activities of foreign businesses active in Azerbaijan with a specific focus on the investment climate in the country.
The online survey consisted of 21 questions in total, incorporating basic information about the profiles of participating companies, questions about the current economic situation, and the near-term business outlook. Moreover, it included questions on the investment climate in the country and efficiency of the ongoing economic reforms, along with necessary reforms to improve the inflow of foreign capitals in the country. To ensure the acquisition of a set of comparable data overtime, most of the questions remained the same compared to last year. To account for the recent developments, in this edition, some questions were slightly rephrased and two new questions were included to understand the company’s intentions to participate in the economic revival of the Karabakh and Eastern Zangezur region.
The complete results of this and last year's surveys can be downloaded free of charge on our website
About AHK Azerbaijan:
The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) is the official representative of the German economy in Azerbaijan providing information services and support to the companies in their market and business research since 2012. The AHK Azerbaijan emerged from the German-Azerbaijan Business Association (DAWF) founded in 1999. With 150 member companies, the AHK Azerbaijan is the most powerful European economic association in Azerbaijan. Companies can particularly benefit from the well-developed network of AHK in the economy and politics of Azerbaijan. While actively representing the interests of its member companies, the AHK Azerbaijan also offers a wide range of reliable business and legal services.
