AzerGold CJSC talks company's contributions to Azerbaijan's GDP till 2035

Economy Materials 2 February 2021 12:13 (UTC +04:00)
AzerGold CJSC talks company's contributions to Azerbaijan's GDP till 2035

BAKU, Azerbaijan, Feb.2

By Fidan Babayeva – Trend:

Upon implementing projects of Azerbaijani AzerGold CJSC, determined within the strategy, a contribution to the country's total GDP of up to $8.9 billion is forecasted by 2035, Chairman of the Board of AzerGold CJSC, Zakir Ibrahimov said, Trend reports.

Ibrahimov made the remark during an event on the results of 2020 and the upcoming tasks.

According to the chairman, it is also planned to attract up to 14,000 workers at the most active stage of project implementation.

“The projected compound annual growth rate of the company's income is planned to be increased to 14 percent. The cumulative annual growth rate of the global mining industry in 2009-2019 was 9 percent," he said.

Ibrahimov stressed that the strategic plans being implemented will make an important contribution to the dynamic development of the non-oil industry, diversification of the country's economy, thereby increasing added value, increasing employment in the mining sector, and generally contributing to improving the living standards of the country's population.

In 2020, AzerGold CJSC, despite the difficulties aroused by the coronavirus pandemic, completely fulfilled the activity plan for 2020.

Thanks to the export of gold and silver produced by AzerGold to the global market, the country's economy received funds worth 186.5 million manat ($109,7 million).


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