TODAY.AZ / Business

IFC to establish grocery retail chain in Baku

24 January 2007 [15:05] - TODAY.AZ
IFC will continue to actively seek direct investment opportunities in areas such as food retail to support growth and employment in the non-oil sectors.

The World Bank Office in Baku told the APA that IFC will also seek opportunities to support private sector development to include SOEs privatization and South-to-South investments.

IFC is presently considering supporting the establishment of a grocery retail chain in Baku of about 86 stores.

The project will introduce the Azerbaijan market to organized food retail in a chain format, and middle and lower-middle income consumers will benefit from the additional convenience, product range, quality and affordability of modern grocery retailing.

Furthermore, once the government decides on bringing in the private sector, "as per the Country Partnership Strategy for 07-10, IFC will also support the transparent privatization of SOEs especially in infrastructure and telecom sectors."

URL: http://www.today.az/news/business/35397.html

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