Baku, Azerbaijan, March 16, 2012
—IFC, a member of the World Bank Group, helped the government of Azerbaijan develop a web-based portal on business permits and licenses, easing access to requirements information for business owners, and also providing a way for entrepreneurs to comment on proposed legislation affecting the private sector.
The new portal,
, increases transparency and supports private sector growth. The website is part of a broader reform effort aiming to reduce the administrative burden on Azerbaijan’s small and medium enterprises and improve the dialogue between policymakers and the private sector.
Managed by the Ministry of Economic Development of Azerbaijan, the portal contains up to date information on business regulations and compliance procedures, as well as links to draft laws to solicit feedback from entrepreneurs on proposed legislation affecting the private sector.
“This portal is an important tool to improve the efficiency of business regulations in Azerbaijan, which will provide real value to the private sector and other stakeholders,” said Thomas Lubeck, IFC Regional Head for the Caucasus. “We look forward to our continued collaboration with the government of Azerbaijan on improving the process of business permits and mandatory authorizations.”
The IFC Investment Climate Advisory Services Project and the Ministry of Economic Development of Azerbaijan will work together to raise awareness about the portal among business owners. The Project is funded by the Swiss Secretariat for Economic Affairs, SECO, and BP and its co-venturers.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit