EU Business Climate Report Azerbaijan-2016
The EU Business Climate Report 2016 is based on the findings of the survey focusing on the current economic situation and prospects for short-term growth, business environment and investment climate in the country, and the company demographics. The report was further shaped by the valuable insights of the EU companies representing major economic sectors in Azerbaijan that took part in the individual interviews.
From 1 March to 8 April 2016, AHK Azerbaijan conducted its first business climate survey, which constitutes the basis for its first business climate report.
The European business community in Azerbaijan represents the largest group of foreign investors with approximate 400 companies of European origin. The majority of European businesses are small and medium-sized entities operating in the non-oil sectors, which are of strategic importance for diversifying the local economy.
Key Survey Findings 2016:
- Respondents have a more favourable view of their own businesses compared to the national economy and their respective sectors.
- Majority of EU businesses active in Azerbaijan believe that the short-term economic growth outlook remains weak and expect their revenues to decline in 2016.
- Top 3 factors influencing EU businesses in 2016:
- Devaluation and uncertain market development;
- Bureaucracy;
- Corruption and customs controls.
- Best-rated 3 indicators of the business climate in 2016:
- Qualification and productivity of employees;
- Political and social stability;
- Infrastructure.
The survey results display the assessment of the economic situation and business climate in Azerbaijan alongside the local investment conditions as perceived by the EU companies and their expectations about future economic and business development in the country.
The results indicate that next 2 years are not going to be easy but entrepreneurs are positive about the next 3-5 years and believe that current reforms are likely to bring positive improvement
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