Azerbaijan expects high FDI, expert says

By: Aynur Karimova

The foreign direct investments in Azerbaijan’s economy are expected to grow in the future, an expert believes.

Nariman Agayev, the Chairman of the Center for Sustainable Development Research, explains it with political and economic stability in the country

“Foreign countries are investing in Azerbaijan’s non-oil sector, in particular, in the sectors such as information and communication technologies, production of construction materials, road infrastructure, Azerkosmos JSC and others,” he told local media. “Major investors into the Azerbaijani economy are Asian countries, some European countries, in particular, the Czech Republic, Germany, as well as economic giants such as China and Japan.”

The expert believes that Azerbaijan remains attractive for investors from different countries as the country guarantees a high level of repayment on investment.

Political and macroeconomic stability, the protection of investors’ rights, a favorable geographical location, rich natural resources, and a highly skilled workforce have turned Azerbaijan, the largest nation of the South Caucasus, into one of the fastest developing countries in the world.

Due to an attractive and stable investment climate and a unique macroeconomic situation in an otherwise tumultuous financial crisis for the rest of the world, foreign investors are flocking to various sectors of the Azerbaijani economy.

At an early stage of the country’s independence, foreign investments were mainly concentrated in the oil sector of the economy. But today the volume of foreign investments in the non-oil sector is increasing.

The government takes necessary measures and improves business and investment climate in the country to draw foreign investments in its economy.

The amount of foreign capital inflow into Azerbaijan in the form of direct investments totaled roughly $8 billion in 2014.

The State Statistics Committee of Azerbaijan reported that the total volume of foreign investments in fixed assets of the country amounted to 5.6 billion manats in January-October 2015, increasing by 41.03 percent compared to the same period of 2014.

Some 82.9 percent (4.65 billion manats) of investments made by foreign countries and international organizations in Azerbaijan’s economy accounted for investors from Great Britain, Norway, Turkey, the U.S., Iran, Russia, Japan and Malaysia.

SOURCE: AZER NEWS

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