Shixin Chen: Public-private partnership law to increase confidence in private sector

Historically, the oil and gas sector in Azerbaijan used to attract large FDI, it was quite a successful effort, ADB Vice-President Shixin Chen said in an interview with Report.

"We also see that the government has been quite successful to stimulate the private sector, which ensured growth for instance in agriculture, transport, logistics, tourism," Chen said, adding that many measures have been taken to develop renewable energy in the country.

He said Azerbaijani government can also try to enhance its activity in attracting more investment, such as green growth, high technology, and digitalization, as well as areas of human capital development, education, health, and social protection.

"Another major area where we can put our efforts together is the diversification of the economy, specifically in the non-oil sector and manufacturing. These areas have unlimited potential, and this requires medium- and long-term efforts," Chen said.

One good measure could be adopting a public-private partnership law (PPP), which will pave the way for increasing confidence in the private sector and enhance private and public sector partnerships in terms of risk sharing, he noted.