Country Manager of World Bank delivers speech on economic prospects for Azerbaijan

Baku, May 4, AZERTAC

The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) has organized its next AHK-Impuls event for its member companies at Hyatt Meeting & Conference Centre, sponsored by PwC Azerbaijan. The honorary guest speaker of the event, Country Manager of the World Bank for Azerbaijan Naveed Hassan Naqvi delivered a speech on “Economic Prospects for Azerbaijan”.

Providing information on the recent international reports analyzing economic and business conditions in the world, Naqvi stressed the success of Azerbaijan in achieving the 25th rank in the “Doing Business 2019” report. He also emphasized the appreciation of the World Bank and the international organizations for this achievement. Mentioning the 69th rank attained by Azerbaijan in Human Capital Index 2019 and referring to people as the source of business creation and innovation, Naqvi noted the necessity of the human capital development which is crucial in strengthening the social bonds between the government and people. In particular, it was mentioned that Azerbaijan has two main resources making possible its market to grow: oil and human capital. He underlined that the country needs to transfer the focus from the oil sector towards the development of human capital. The Country Manager of the World Bank also underscored the importance of the government`s role in improving the education system and health sector in Azerbaijan.

He expressed his appreciation for the introduction of the new management in the state bodies since the last presidential elections, particularly stressing the new appointments made in the Ministry of Taxes, Ministry of Labor and Social Protection, among others. Naveed Hassan Naqvi concluded his speech by highlighting the significance of knowledge and know-how in improving the economic prospects of the country.

Senior Manager at Risk Assurance Department of PwC Azerbaijan Otabek Sidikov delivered a presentation on “The three lines of defense for efficient corporate governance” in the event.

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