Baku:European companies have rated the current economic climate in Azerbaijan as satisfactory, with 57% of firms participating in a survey expressing this view. The survey results were discussed at the Azerbaijan-European Union Business Forum, as reported by APA-Economics.
According to Azeri-Press news agency, the EU Business Climate Report gathered insights from a database of 740 companies. Out of these, 69 companies from 19 sectors and 29 countries took part in the survey, supplemented by 22 interviews. It was found that 78% of the respondents were micro, small, and medium-sized enterprises, and although 29% of these companies have yet to enter the Azerbaijani market, they showed interest in doing so.
The survey highlighted that while the business environment assessments have slightly weakened compared to the previous year, this shift is attributed to the geopolitical situation. Nonetheless, political and social stability, along with energy supply and logistics opportunities, received positive feedback. However, challenges such as access to finance, the quality of vocational education, payment discipline, and access to new technologies were noted as areas needing improvement.