Azerbaijan has been ranked 34th with 76.7 points among 190 countries in the World Bank`s Doing Business 2020 report.
“Azerbaijan made it easier to do business in four areas measured by Doing Business: registering property, getting credit, protecting minority investors and enforcing contracts,” according to the report.
“Azerbaijan made registering property easier and more transparent by increasing the coverage of its cadaster and digitizing cadastral plans. Azerbaijan also made property transfer more difficult by making it mandatory to deposit funds into the notary deposit account,” the WB report said.
“Azerbaijan strengthened access to credit by allowing nonpossessory security interests in one category of movable assets without any restrictions on the use of inventory, including future assets extending automatically to products, proceeds, and replacements of the original collateral. The country also strengthened minority investor protections by imposing liability on directors for unfair related-party transactions,” the WB mentioned.
“In regards to protecting minority investors, Azerbaijan strengthened this area by imposing liability on directors for unfair related-party transactions. In turn, Azerbaijan made enforcing contracts easier by introducing an e-system that allows plaintiffs to file the initial complaint electronically and by adopting a consolidated law on voluntary mediation,” the bank added.
