Investor Presentaiton
TRANSITION REPORT
2021-22
SYSTEM UPGRADE:
DELIVERING THE
DIGITAL DIVIDEND
COUNTRY ASSESSMENTS: AZERBAIJAN
03
Assessment of transition qualities (1-10)
Competitive
10
8
6
Integrated
Resilient
0
Inclusive
Azerbaijan
-Eastern Europe and the Caucasus
........ EBRD
Well-governed
Green
Structural reform developments
The government has outlined its main directions and priorities of sustainable socio-
economic development until 2030. In February 2021 the president signed a decree
on "Azerbaijan 2030: National Priorities for Socio-Economic Development", outlining a
long-term framework of policies and reforms. The framework includes strengthening
the connections between society, businesses and the state. It outlines the following key
factors for economic recovery: effective and efficient management of the state's role in the
economy via market-oriented reforms, bolstering private institutions, government-friendly
business management and further liberalisation of trade practices. The Cabinet of Ministers
is expected to prepare a draft strategy of socio-economic development in 2021-25 within
nine months of the approval of "Azerbaijan 2030".
The authorities are stepping up efforts to promote renewable energy. A new law on
the use of renewable energy sources in the production of electricity, approved in May 2021,
was signed by the president in July, together with a presidential decree on implementing
the renewable energy law. The law outlines the regulatory framework for foreign investment
and specifies incentives for investors in renewable energy source projects in Azerbaijan,
including guaranteed off-take and connection, priority in transmission and distribution,
and long-term land leases. Additional efforts in the past year to green the economy include
publishing an in-depth review of the energy efficiency policy, which will be followed by a
national action plan to enhance energy efficiency.
There is more awareness of the need to enhance digitalisation of government
services. In February 2021 a mobile application of the government portal "myGov" was
launched to make public services more accessible. The Central Bank of Azerbaijan also
continued its efforts to expand digital payments in the country. Strategic cooperation
agreements and a memorandum of understanding were signed with Visa and MasterCard.
These include initiatives to support key drivers accelerating the development of the payment
market, introducing innovative payment solutions, increasing mobile payments, as well as
expanding financial literacy and inclusion.View entire presentation