PwC Azerbaijan presented the key findings of its 5th Annual CEO Survey on 4th May at Four Seasons Hotel Baku. The 2022 Azerbaijan's CEO Survey Report is part of PwC's 25th Annual Global CEO Survey report. The report offers a look at how today's executives are meeting the most pressing challenges in Azerbaijan and around the globe; from navigating through global economic recovery to preparing for a net-zero society.
The event was attended by over 100 CEOs from business as well as the representatives of the foreign embassies, public sector, government and media. Movlan Pashayev, CMP of PwC Azerbaijan, presented the key findings of the survey and moderated the panel discussion on "Reimagining the outcomes that matter in Azerbaijan". The panel speakers were Emil Masimov, CEO of Azerconnect, Nariman Sardarly, CEO of Pasha Investment and Bakhtiyar Aslanbeyli, Vice-President for the Caspian Region, Communications & Advocacy, BP Azerbaijan who joined Movlan in discussing the business environment, digitalization trends, investment and sustainability in times of economic instability.
"Optimism about growth continues unabated in Azerbaijan and worldwide and has even increased compared to the previous year. It reflects the fact that strong demand returned rapidly in 2021, the second year of the pandemic. Health risks rank once again as the number one threat, followed by geopolitical conflicts. Microeconomic volatility remains fierce and the risk is expected to increase throughout the year given the Russia-Ukraine war and strong geopolitical turbulence", said Movlan Pashayev during his presentation.
Key findings of the survey:
- 79% of Azerbaijani CEOs believe global economic growth will improve over the next 12 months
- 77% of CEOs in Azerbaijan are very confident in their own company’s growth
- 62% of Azerbaijani CEOs rank health risks as their top priority to address, followed by geopolitical conflict (48%). Cyber risks and Macroeconomic volatility are still among the top threats.
- 18% of companies in Azerbaijan have made, or are progressing towards, a net-zero commitment.
- 50% of Azerbaijani CEOs initiate investments in new projects at least once per year
*The field research of the survey was conducted during October, November and December of 2021, before the war in Ukraine began on 24 February of this year. Thus, the responses do not reflect the sentiment and views of CEOs shaped by the impact of the war.