BAKU, Azerbaijan, January 30. The future development of the economy and companies of Azerbaijan is quite optimistic, Managing Partner of PwC in Azerbaijan Movlan Pashayev told Trend in an interview.
According to him, many directors see great prospects for their development given the current reforms.
"We have completed the collection of information as part of the 6th annual survey of company executives. The survey was conducted among the heads of more than 100 companies in various sectors of the economy, both private and public organizations. At the moment, the information is being processed, and we expect that by the middle of March this year, the full report will be ready," he said.
"I can note for now that the level of optimism in the development of the economy and companies of Azerbaijan was quite high in 2022. Many directors see great prospects for their development given the current reforms. Of course, there are still problems with various aspects of doing business. First of all, it is the regional and global volatility of the economy," he said.
Speaking about the global survey of company executives, Pashayev noted that 40 percent of heads believe that their companies will not survive if they start to reform quickly enough.
"First of all, it concerns technologies and the retraining of personnel. They also take into account various global risks such as inflation, macroeconomic instability, and geopolitical conflicts, in particular, the Russia-Ukraine war. Resuming the survey, we can say that there are five new megatrends in the world. Among those trends are climate change, advanced technology and its impact on the economy, and demographic changes, in particular, in Europe, Japan, and other countries, where the rapid aging of the population is observed while society is getting younger," he said.
According to him, the other megatrends are social instability and deglobalization.
"According to our survey, it is precisely these challenges that the heads of our companies face. If the business does not change, at least for the next five years, the companies will not survive," he added.
PricewaterhouseCoopers Global (PwC) is one of the world’s most extensive networks of professional services firms. In its current form, the network of firms was established in 1998 through the merger of Price Waterhouse and Coopers & Lybrand, both of which were headquartered in London. PwC helps organizations and individuals create the value they’re looking for, by delivering quality assurance, tax, legal and advisory services.
PricewaterhouseCoopers (PwC) Azerbaijan, established in 1995, is one of the country’s first international professional services firms.
