Deputy PM: Over 11B manats invested in Azerbaijan’s construction sector (UPDATE)

Details added (first version posted on 10:53)

Baku, Azerbaijan, Apr. 27

By Azad Hasanli – Trend:

Azerbaijan’s Deputy Prime Minister Ali Ahmadov has said that 11.4 billion manats out of 15 billion manats of investments, put in the country’s economy, were invested in the construction sector in 2016.

Ahmadov made the remarks at a meeting of the Commission on Regulation and Coordination of Labor Relations with representatives of construction sector in Baku Apr. 27.

More than 3.9 billion manats out of these 11.4 billion manats were invested in fixed assets, he said, adding that thanks to these funds 13,000 apartments with a total area of 1.67 million square meters were built.

The deputy prime minister noted that the construction sector also plays a significant role in the labor market.

“According to the statistics, 343,000 people work in the construction sector, accounting for seven percent of working population,” he added.

Construction sector in Azerbaijan is the second after the oil sector in terms of the largest amount of investments, said Ahmadov.

“All this shows that in the economic policy pursued in Azerbaijan, great importance is attached to the construction sector. Thanks to this, the construction sector is developing and strengthening,” he noted.

The Commission on Regulation and Coordination of Labor Relations was created in March 2017 by a decree of Azerbaijan’s President Ilham Aliyev. The Commission is headed by Ali Ahmadov.