BAKU, Azerbaijan, Aug.23
By Leman Zeynalova – Trend:
Swiss State Secretariat for Economic Affairs SECO plans to present the Regional Cooperation Strategy for the South Caucasus late 2021 or early 2022, the launch will be depending on the pandemic situation at that moment, SECO told Trend.
“In terms of content, the strategy will be marked by continuity in order to achieve the long-term objectives of the Swiss engagement in the South Caucasus,” said SECO,
Switzerland is currently drafting its Regional Cooperation Strategy for the South Caucasus 2022-2025 and within this Program, the Swiss State Secretariat for Economic Affairs SECO plans to allocate approximately CHF 11 million for economic cooperation projects in Azerbaijan.
Economic Affairs SECO financially supports the Azerbaijan Investment Climate and Agribusiness Competitiveness project, which is being implemented by the International Finance Corporation of the Worldbank Group (IFC). This project supports the government of Azerbaijan to diversify and increase the competitiveness of the economy by:
• Improving the overall investment climate by streamlining business regulation and shift to risk-based inspections, developing and implementing a national foreign direct investment strategy; and
• Increasing the competitiveness of the agribusiness sector—which employs nearly 40 percent of the workforce in Azerbaijan—as a priority in diversifying the economy. The project enhances access to quality seeds; regulatory streamlining along agribusiness value chains; and expanding access to agri-finance products (lending instruments and other products) for agri-enterprises.
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