A two-year project aimed at developing competiveness in key non-oil manufacturing sectors of the economy in Azerbaijan was launched on 20 September, 2017. Funded by the European Union, the project is implemented by the Latvian Chamber of Commerce and Industry.
The project will support the government of Azerbaijan in its effort to diversify and broaden the growth base of its economy, a challenge that has become more pressing in view of the downward cycle in the oil and gas markets.
The main objective of the project is to develop competitiveness in key manufacturing sectors outside the oil industry and to strengthen public-private dialogue (PPD) within those sectors.
In order to achieve this, the project will focus on four key areas:
- To enable the creation and functioning of professional business associations in the selected sectors
- To carry out pre-feasibility studies of selected pilot sectors of manufacturing industries
- To propose changes in relevant legislation to enable the market economy to function more efficiently
- To improve skills among public and private stakeholders for the development of PPD and good business practices.
The project has a budget of €560,000 and works with the Ministry of Economy of the Republic of Azerbaijan.
EU4Business works with the Azerbaijani government, associations and SMEs to develop the country’s SME sector by improving access to finance and markets, encouraging women entrepreneurs and building business skills. The EU also supports the government in the development of a more coherent policy towards SMEs allowing the country to unleash the potential of SMEs for long-term socio-economic development.