BAKU, Azerbaijan, April 2. Thanks to the development of the non-oil and gas sector, its share in GDP will reach a maximum in the recent history of Azerbaijan, Gulnara Khaidarshina, Deputy Head of Research at Russian Gazprombank, told Trend.
"According to our estimates, due to new projects in Karabakh and the growing logistical importance of Azerbaijan in the Eurasian region, while maintaining the current pace of development of the non-oil and gas sector, its share in GDP will approach 70 percent by 2024." This will be the maximum level in the recent history of Azerbaijan," she said.
Khaidarshina noted that it is expected to invest around $10 billion (18 percent of GDP) in projects in Karabakh by 2023. She added that foreign investors are actively being involved (including from Türkiye, the UAE, Italy, UK and Russia).
Along with the modernization of infrastructure and socially significant facilities, she said, new industrial and economic zones will be created that will be focused on the production and export of non-oil and gas products.