Foreign investments in Azerbaijan’s economy increase by a third

Photo: Foreign investments in Azerbaijan’s economy increase by a third   / Business News

Baku, Azerbaijan, Dec. 17

By Emin Aliyev - Trend:

The total amount of foreign investments in Azerbaijan's economy amounted to 3.78 billion manat in January-November 2013, which is 31.18 per cent more compared to the same period of last year, the Azerbaijani State Statistics Committee said today.

In January-November 2013 some 87.4 per cent (3.301.4 billion manat) of investments in Azerbaijan's economy made by foreign countries and international organisations accounted for investors from the UK, the U.S., Japan, Norway, Turkey, the Czech Republic and France, according to the report.

The UK continues to maintain a leading position in the list of foreign investors in Azerbaijan. This country's specific weight in total foreign investments made up 35.9 per cent, while the investments totalled 1.354 billion manat.

Norwegian investments in the Azerbaijani economy totalled 467.6 million manat with a specific weight of 12.4 per cent, the U.S. - 454.64 million manat (12 per cent), Japanese - 346.06 million manat (9.2 per cent), Czech - 258.11 million manat (6.8 per cent), Turkish - 270.53 million manat (7.2 per cent), French - 149.99 million manat (3.9 per cent) and Russia and Iran - 118.72 million manat each (3.1 per cent), according to the report.

Among the international financial institutions, the largest volume of investments was allocated by the World Bank - 139.1 million manat with a specific weight of 3.7 per cent. In January-November, the Asian Development Bank allocated 42.3 million manat (1.1 per cent) for implementation of projects in Azerbaijan and the Islamic Development Bank allocated 9.27 million manat (0.3 per cent).

The official exchange rate stands at 0.7844 AZN/USD on Dec. 17.

Translated by NH
Edited by SM

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