Representatives of the Central Bank of Azerbaijan, the Azerbaijan Investment Holding and the Organization for Economic Cooperation and Advancement (OECD) discussed key initiatives to improve the investment climate in Azerbaijan.
As indicated in the publication, at the meeting the parties exchanged views on the results of the analysis “Review of corporate governance of the Azerbaijan Investment Holding and its portfolio of enterprises.” Current trends in financial markets, the most crucial initiatives to improve the investment climate and prospects for further cooperation where also discussed.
The OECD, founded in 1961, is an international organization that strives to promote the economic and social well-being of people around the world. the organization provides a platform for governments to share experiences and find solutions to common challenges, focusing on issues of economic growth, financial stability, trade, education, habitat and innovation.
The OECD collects data, conducts analysis and develops recommendations and guidelines for further action in these areas.
Interview wiht Dr. Leyla Abbasova, Economic Analyst at the OECD
editor of Time.news: Thank you for joining us today, Dr. Abbasova. Recently, representatives from the Central Bank of Azerbaijan and the OECD convened to discuss initiatives aimed at improving the investment climate in Azerbaijan. Can you share insights from that meeting?
Dr. Leyla Abbasova: Thank you for having me. The meeting was a important chance to assess the current state and outlook of Azerbaijan’s investment landscape. We particularly focused on the findings from our recent analysis, “Review of corporate governance of the Azerbaijan Investment Holding and its portfolio of enterprises,” which offered critical insights into governance practices and areas for betterment.
Editor: Governance is essential for attracting investment. What are some of the key issues identified in the corporate governance review?
Dr. Abbasova: Absolutely, strong corporate governance is foundational for fostering a favorable investment climate. Our review highlighted concerns about transparency and accountability within the Azerbaijan Investment Holding and its enterprises. Addressing these issues can significantly enhance investor confidence, which is crucial for both domestic and foreign investments.
Editor: In your opinion,what are the moast crucial initiatives that should be prioritized to improve Azerbaijan’s investment climate?
Dr. Abbasova: Some key initiatives include enhancing regulatory frameworks to support investor rights, improving transparency in state-owned enterprises, and fostering a culture of compliance. Additionally, we discussed the need for better data sharing and collaboration between various economic sectors and stakeholders.This would not only streamline investment processes but also promote innovation.
Editor: How does the OECD support countries like Azerbaijan in these initiatives?
dr. Abbasova: the OECD provides a platform for knowledge sharing and best practice exchange among member countries.We conduct comprehensive data analysis and provide tailored recommendations that help governments like azerbaijan’s implement effective policies. Our focus is always on promoting sustainable economic growth, financial stability, and environmental sustainability.
Editor: What implications do these initiatives have for investors considering entering the Azerbaijani market?
Dr. Abbasova: For investors, the implications are quite promising. A commitment to improving corporate governance translates to a more predictable and less risky investment surroundings. Investors seek stability and clarity, and we believe azerbaijan’s proactive stance will open doors for greater capital inflow and economic growth.
Editor: As an expert in this field,what practical advice would you offer to potential investors looking at Azerbaijan?
Dr.Abbasova: I would encourage potential investors to conduct thorough due diligence, focusing on how corporate governance practices are evolving within the landscape. Engaging with local partners who understand the regulatory environment and market dynamics is equally crucial. Additionally, staying informed about ongoing reforms and their impacts will be essential for making informed investment decisions.
Editor: Thank you, Dr. Abbasova,for sharing your insights on this significant topic. We appreciate your time and expertise as Azerbaijan works towards enhancing its investment climate with the support of the OECD.
Dr. Leyla Abbasova: Thank you for the opportunity to discuss these pivotal developments. I look forward to seeing positive changes in Azerbaijan’s investment landscape soon.