The "Business Insolvency" indicator was discussed with the private sector

The next meeting of the "Business Insolvency" Working Group of the Commission for Business Environment and International Ratings took place on April 5, 2024, at 10:00 a.m.

The meeting was attended by the Ministry of Justice, the Ministry of Economy, the Central Bank, and the Bar Association, including representatives of the private sector - Ernst & Young Holdings (CIS) B.V., Deloitte & Touche, PricewaterhouseCoopers Azerbaijan and Ekvita and other members of the working group.

At the meeting, the current situation was analysed together with private sector representatives in the Legislation and Public Services block of the "Business insolvency" indicator of the "Business Ready" Report of the United Nations World Bank Group, participants' suggestions were discussed and their questions were answered and as a result, some issues regarding the insolvency procedure were clarified.

At the same time, during the meeting, the need was emphasised for conducting appropriate awareness-raising activities, the need to ensure a high level of communication work in this area among representatives of the private sector, including consulting companies and business associations, in order to increase awareness of the mentioned indicator.

In the meeting held in the format of mutual cooperation, representatives of the private sector, especially representatives of leading consulting companies highly appreciated the dialogue between the state and business in order to further improve the business environment and continue reforms in this area.

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