BAKU, Azerbaijan, September 25. Azerbaijan’s public procurement system can help lay the foundation for new businesses and drive local industry, Elnur Bagirov, chairman of the State Service for Antimonopoly and Consumer Market Control, said at the 2nd Azerbaijan International Investment Forum today in Baku, Trend’s correspondent reports from the even.
He noted that physical platforms need to be supported by a strong institutional framework for an investor to make a competitive and long-term decision when entering any market, including Azerbaijan.
“Within this framework, a competitive and transparent public procurement system can be one of the most effective tools for implementing new projects by providing initial demand and a reliable market route.
“Azerbaijan’s new law on public procurement is a clear example of such a modern institution. Adopted in July 2023 and entering into force in January 2024, the law brings the national system closer to international best practices by strengthening competition, transparency, equal treatment and efficiency.
“Most importantly, the law also completed the transition to electronic procurement. Through the unified e-Tender portal, procurement planning, notices and documents, bid submissions, communication, results and procurement records are managed within a single digital environment. For investors, this means greater visibility of market opportunities, fewer administrative barriers and a more transparent and predictable route to public procurement,” he added.
The second Azerbaijan International Investment Forum is being held in Baku.
The two-day forum is organized by Azerbaijan’s Ministry of Economy and its subordinate Azerbaijan Export and Investment Promotion Agency (AZPROMO), in strategic partnership with European House – Ambrosetti.
Plenary and panel sessions at the event will address strategic issues including the Middle Corridor, energy and the green transition, artificial intelligence and digital transformation, infrastructure, industry and free economic zones, critical raw materials, agribusiness, financial cooperation, small and medium-sized business development, tourism, real estate and investment in human capital.
