Support for the improvement of the investment climate and export promotion
The overall objective of the project was to improve the economic development of the Government of Azerbaijan and reduce their dependence on the oil sector.
The specific objectives of the projects were:
1. To promote economic diversification and export in non-oil sectors, among others through improving the country’s private sector attractiveness for foreign private direct investments
2. To foster the development of financial markets and promote portfolio investment
The project will have to take into consideration the recent changes in the institutional set up for investment promotion (i.e. establishment of the AIC in 2006 and separation of the State Privatisation Committee and re-establishment of the SCSPM as a separate institution in 2006) as well as the technical assistance needs of each of the stakeholders.
The structure of this Project will revolve around two core components:
• Investment climate promotion, capital markets regulation, support to FDI and export promotion in non-oil sectors,
• Development of securities market and portfolio investments.
The project has two components:
[x] Promotion of investment and export
This aimed at supporting Azerbaijan Investment Company (AIC) and Azerbaijan Investment and Export Promotion Agency (AZPROMO)
to attract foreign private direct investments in non-oil sectors
to improve the country’s export capacity
[x] Support to the securities markets and portfolio investment
This aimed at supporting Baku Stock Exchange (BSE) and State Committee for Securities (SCS)
to develop the stock exchange of Azerbaijan, the public listing policy, and securities legislation
to establish a terminology of financial investments
to obtain institutional strengthening at SCS et BSE
Status : Closed
Date : 01-2009 -> 07-2011
Countries : Azerbaijan