IFC and Azerbaijan Promote Best Practices in Business Inspections, Boosting Economic Growth

Baku, Azerbaijan - IFC, a member of the World Bank Group, partnered with Azerbaijan to host a conference in Baku yesterday on best practices in business inspections, supporting the government’s efforts to improve the business climate and spur private sector development to create jobs and boost economic growth.

The conference showcased experience in inspections policy reforms from five countries, including Canada, Latvia, Lithuania, Ukraine, and the United Kingdom. Conference sessions addressed topics such as food safety, fire safety and workplace safety, and participants discussed how information technology can increase the effectiveness of business inspections, including risk-based planning. The Ministry of Economic Development, Ministry of Justice, and Confederation of Enterpreneurs and the Twinning Project of the European Union all co-hosted the event.

“The conference is focused on priority areas in the government’s strategy to build a competitive economy and boost the export potential of the small and medium enterprise sector,” said Niyazi Safarov, Azerbaijan’s Deputy Minister of Economic Development. “Sharing experience will help improve the delivery of public services to support economic development through private sector growth.”

With IFC’s support, Azerbaijan recently launched the Electronic Registry (e-registry) of Inspections. This initiative is part of IFC’s Investment Climate Advisory Project work to support the Azerbaijani government in fostering private sector growth, promoting job creation, and improving the investment climate in the country. The project is funded by the Swiss State Secretariat for Economic Affairs (SECO), and BP on behalf of its coventurers.

“We welcome Azerbaijan’s commitment to further improving the country’s inspection regime and to enhancing transparency and efficiency of the inspections,” said Lisa Kaestner, IFC Regional Business Line Leader for Investment Climate Advisory Services.

About IFC

IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. We create opportunity for people to escape poverty and improve their lives. We do so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, our new investments climbed to a record $18 billion in fiscal 2010. For more information, visit www.ifc.org.

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