A Round table on Economic Reforms in Azerbaijan: Achievements and Prospects

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  • Center for Analysis of Economic Reforms and Communication, jointly with the Public Administration Academy under the President of the Republic of Azerbaijan organized a round table on “Economic Reforms in Azerbaijan: Achievements and Prospects”.

     The discussion was kicked off with an opening speech made by Academician Urkhan Alakbarov, rector of the Public Administration Academy. In his speech dedicated to the topic “Economic Reforms in Azerbaijan and talent development: process and outcomes”, rector of the Academy stated  that hanks to the introduction of successfully developing innovative technologies and perfect management technologies in a relatively short period of time, Azerbaijan ranked high among the world leaders: “A talent development, a concept of turning "black gold" into "human capital", declared by President Ilham Aliyev back in 2003 during the World Summit stands behind this process. Along with bachelor, master and doctoral students, up to 2000 civil servants are trained and retrained annually at the Academy of Public Administration under the President of the Republic of Azerbaijan, the leading educational and analytical center for the training of civil servants, created by the relevant Presidential Decree. Along with the faculty of the Academy, high ranking state officials of the Presidential Administration, ministers, chairpersons of state committees, prominent scientists and intellectuals are also involved in the organization of similar trainings. The report, based on data from international organizations, analyzes Azerbaijan's leading positions among world leaders on indicators of sustainable development, which is the main priority of the 21st century." 

    Further, Vusal Gasimli, the Executive Director of the Center for Analysis of Economic Reforms and Communications, said that the reforms carried out in Azerbaijan are paying off. So, despite the decline in GDP in 2016 due to a sharp drop in oil prices and the recession seen in major trading partners, 2017 is characterized by a process of adaptation to new realities, and full recovery of economic growth will be resumed in 2018. "The most tangible successes achieved through the reforms of 2017 include positive dynamics in the balance of payments, stability of manat, growth of non-oil exports at the level of 1/3, an increase in strategic foreign exchange reserves, as well as positive change in expectations of businesses and households and positive dynamics in this direction. The reforms will continue on 9 indicators of the "Doing Business" index. Key measures to be implemented within the Action Plan are the reforms in areas such as, Dealing with Construction Permits, Getting Electricity, Registering Property, Getting Credit, Protecting Minority Investors, Paying Taxes, Trading across Borders, Enforcing Contracts, Resolving Insolvency. The establishment of a Credit Guarantee Fund will simplify access to credit resources and increase financial opportunities for the country economy. In general, the implementation of strategic road maps has a positive impact on the new cycle of economic development. "

    Academician Ziyad Samedzade, Chairman of the Parliamentary Committee on Economic Policy, Industry and Entrepreneurship, who attended the roundtable, noted that the economic reforms implemented in the country, reconstruction and rehabilitation works implemented in recent years have positive consequences. According to Ziyad Samedzade, as it is a case for the entire world, there is a need to expand the area of economic reforms in Azerbaijan as well. "Today, when we are predicting the economic developments in 2050, we can also plan the implementation of various infrastructure projects, not only in the oil sector, but also in other areas - in the agricultural sector, construction, etc. The expansion and deepening of economic reforms in Azerbaijan is based on a solid foundation. Poverty reduction from 51% to 5%, growth in employment dynamics, development of regions and successful implementation of other strategic programs create a powerful basis for deepening economic reforms. "

    The round table was continued with Vugar Zeynalov, vice-president of the National Confederation of Entrepreneurs (Employers) Organizations of the Republic of Azerbaijan, who expressed his opinion as well. He said that several industrial parks and agro-parks have been created as part of the reforms implemented in Azerbaijan, which further contributed to the revitalization of the business enabling environment and the development of entrepreneurship. New businesses equipped with high technologies and specializing in the production of competitive products are opened in the regions. Along with achievements in meeting local demand, Country has also strengthened its export potential in several areas.

    The round table discussion was also attended by the professorial and student staff of the Academy of Public Administration under the President of the Republic of Azerbaijan.

    It is worth to note that the Center for Analysis of Economic Reforms and Communication will continue to conduct similar activities on this subject in order to provide the public with reliable information about the reforms being carried out in the country, to establish direct dialogues, increase awareness and the level education and strengthen public-private dialogue, and deliver reliable message to the public.

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