President Ilham Aliyev: investment climate in Azerbaijan is very positive, and volume of investment clearly demonstrates this

President Ilham Aliyev: investment climate in Azerbaijan is very positive, and volume of investment clearly demonstrates this

BAKU, Azerbaijan, Dec. 18


The investment climate in Azerbaijan is very positive, and the volume of investment clearly demonstrates this, Azerbaijani President Ilham Aliyev said at an Azerbaijan-Ukraine business forum Dec.17, Trend reports.

“Over the past 15 years, rapid economic growth has occurred in Azerbaijan,” the Azerbaijani president noted. “I can say that the economy has more than tripled.”

“That is, the gross domestic product has increased by more than 300 percent and, of course, this has allowed us the opportunity to increase our economic power and implement infrastructure projects,” Ilham Aliyev said. “Whereas poverty was at about 50 percent 15 years ago, today it is at 5 percent. In other words, this indicates that income from natural resources is distributed evenly in society and all segments of society have benefited from this.”

“This year we initiated a major social package,” the Azerbaijani president added. “The wide social package covered about half of our population – 4.2 million people. The minimum wage was doubled, the minimum pension increased by 70 percent, some benefits by 50 percent, some by 100 percent, and the Azerbaijani state once again demonstrated the essence of its policy. Our policies are centered on the people of Azerbaijan, as we channel the additional incomes received primarily into social projects. At the same time, of course, infrastructure projects also occupy an important place.”

“In order to characterize the business environment, I should note that 85 percent of the Azerbaijani economy is formed in the private sector,” Ilham Aliyev said. “This means that the broad privatization process is already being completed. Only strategic assets remain in state monopoly. For example, the State Oil Company, our energy company, the water company, the road construction company, the railway, the Caspian Shipping Company, AZAL, our airline, and several other companies. Except for them, all other agencies operate in the private sector and, of course, this creates a wonderful climate for foreign investors.”

“The recent tax and customs reforms are yielding results,” the Azerbaijani president noted. “These areas were very problematic in our country. But over the past few years, very serious reforms have been carried out, and these areas have already become transparent, and businesses immediately responded to this positively. In 11 months of this year, tax and customs authorities contributed over $600 million to the treasury in excess of the plan. Our external debt is very low, accounting for only 17 percent of the gross domestic product. According to this indicator, Azerbaijan ranks ninth in the world. Our foreign exchange reserves are five times higher than our external debt. In other words, we can zero out our external debt at any time. According to a recent report of the International Development Association, Azerbaijan has become a donor country. So now we are a lending country, not a borrower. We invest in other countries ourselves. These investments exceed $20 billion.”

“On our initiative, very important energy and transport projects have been implemented in the region,” Ilham Aliyev added. “We received the financial support of foreign banks in the implementation of these projects – European and Asian banks. Thanks to this support and our internal resources, we have linked the Caspian Sea with the Black and Mediterranean Seas via oil pipelines. At the same time, the construction of a gas line with a length of 3,500 kilometers from Azerbaijan to Europe is drawing to a close. Next year we will celebrate its opening and thus Azerbaijan will have a say in the world not only as an exporter of oil, but also as an exporter of gas.”

“In parallel with this, we are exporting electricity, including to Europe,” the Azerbaijani president said. “Growing energy generation capacities allow us the opportunity – of course, we have met our domestic needs – to contribute to the energy security of other countries. One of the issues discussed today is related to transport, and there are also broad opportunities for cooperation. If we can connect the transport infrastructure of Ukraine with the transport infrastructure of Azerbaijan and pursue a unified tariff policy, then, I believe, the volume of cargo transportation through the territories of our countries will dramatically increase. We see growth compared to last year, but we believe that it can be even more impressive.”

“Azerbaijan is a country with no access to the world ocean,” Ilham Aliyev noted. “However, despite this, we have turned Azerbaijan into an international transport and logistical center with very large investment projects, and the East-West and North-South transport corridors passing through our country increase this role of ours. These projects have given an impetus to other projects, including the North-West and South-West transport corridors. So all these routes pass through the territory of Azerbaijan. These projects are not purely economic and transport in nature; in a broad sense, they contribute to international cooperation because the countries located along these corridors rise to the status of natural allies. Thus, these projects also serve security, well-being and mutual understanding.”

“I believe that, taking into account all these positive principles, we will be able to increase our trade and implement large-scale investment projects in a short period of time,” the Azerbaijani president said. “This business forum will therefore have tangible results. We want it and believe in it. I wish the businessmen of Azerbaijan and Ukraine success.”

Heydar Aliyev is a man who gave wings to Azerbaijan in most difficult conditions - Yuli Gusman
Heydar Aliyev is a man who gave wings to Azerbaijan in most difficult conditions - Yuli Gusman
Russian FM to visit Azerbaijan
Russian FM to visit Azerbaijan
Azerbaijan marks 98th birthday anniversary of National Leader Heydar Aliyev
Azerbaijan marks 98th birthday anniversary of National Leader Heydar Aliyev
Loading Bars
Iran shares data on exports from Semnan Province
Iran discloses number of cars supplied with dual fuel free of charge
Likelihood of interest rate decrease in Azerbaijan seems very low – Unicapital
Foundation of apartments to be laid in Iran's Yazd Province
Eleven people killed in bombing of bus in Southern Afghanistan - officials
Fauci says U.S. COVID-19 death toll undercounted
Heydar Aliyev is a man who gave wings to Azerbaijan in most difficult conditions - Yuli Gusman
Vaccination of citizens over 18 starts in Azerbaijan
Poll shows 60% of Japanese want Games cancelled
Ministry discloses number of ships received by big port in southern Turkey in 1Q2021
Brazil reports 1,024 more deaths from COVID-19
UN Security Council to discuss East Jerusalem tensions on Monday
Gaza militants fire 2 rockets at southern Israel: military
Saudi Arabia to hold Hajj ritual under COVID-19 measures
Hamilton overtakes Verstappen to win F1 Spanish GP
UK records another 1,770 coronavirus cases, 2 deaths
EU has not ordered AstraZeneca vaccines beyond June - Commissioner
Russian FM to visit Azerbaijan
Emirates to fly medical aid to India for free
WHO records over 786,000 new daily cases of COVID-19 worldwide
Azerbaijan marks 98th birthday anniversary of National Leader Heydar Aliyev
Kazakhstan becomes main importer of Uzbek cars
Iran, India discuss expansion of trade relations
Turkey's COVID-19 cases maintain downward trend amid lockdown
Georgian NCDC Deputy Head hopes for better epidsituation in summer if cases do not surge in May
Enmity with Turks is catastrophe not only for Armenia, but for entire region - Pashinyan
Lukashenko, Putin agree to meet soon
President Ilham Aliyev makes Facebook post on 98th anniversary of national leader Heydar Aliyev (PHOTO)
Egypt to start producing Chinese Sinovac coronavirus vaccine in June: Health minister
South Sudan president dissolves parliament in line with peace deal
Israeli gov't approves aid plan for leading airlines
Belarus president signs decree on transition of powers in case of emergency
Progress achieved under Azerbaijan’s national leader Heydar Aliyev paved way for liberation of occupied lands in 2020 – Sobhani
Sunflower imports down in Georgia
Kyrgyz FM to visit China
Expert consultations continue in Vienna between Iran
New COVID-19 cases in Turkey lowest since March
Israeli gov't approves aid plan for leading airlines
Iran's Energy Exchange announces products to be on sale on May 10
Turkey discloses number of ships received by Zonguldak port in 1Q2021
National Gymnastics Arena in Baku has best conditions - Сoach of Egyptian team
Emotions after competition are positive - bronze medalists of World Cup in Baku, Azerbaijani team
Azerbaijan Army holds several events on occasion of 76th anniversary of Victory (PHOTO)
Uzbekistan increases export of textile products
Georgian President to visit North Macedonia on May 10
MasterCard intends to work with Turkmenistan to improve level of electronic payments
Gazelli Group congratulates Second World War veterans in its own unique way (PHOTO)
Azerbaijan shares data on number of vaccinated citizens for May 9
Azerbaijan reports 660 new COVID-19 cases, 1,539 recoveries
Azerbaijani ombudsman appeals to international organizations
Bulgarian team takes first place at World Cup in Baku in group exercises with three hoops and two pairs of clubs
Discussions underway to resume Tabriz-Baku flights - Iranian official
Awarding ceremony held within Rhythmic Gymnastics World Cup in Baku (PHOTO)
Iran reveals COVID-19 data for May 9
Turkey discloses volume of cargo transshipped through Aliaga port
Bulgarian gymnast grabs gold in exercise with ribbon at Rhythmic Gymnastics World Cup in Baku
76th anniversary of Victory in Great Patriotic War celebrated in Shusha (PHOTO)
Israeli gymnast grabs gold in exercise with clubs at Rhythmic Gymnastics World Cup in Baku
Leadership of Azerbaijani MoD paid tribute to memory of compatriots, who died in Great Patriotic War (PHOTO)
Baku holds award ceremony of winners and prize-winners of Rhythmic Gymnastics World Cup at National Gymnastics Arena (PHOTO)
Italian gymnast grabs gold in exercise with ball at Rhythmic Gymnastics World Cup in Baku
Israeli gymnast grabs gold in exercise with hoop at Rhythmic Gymnastics World Cup in Baku
Azerbaijani team grabs bronze in exercise with 5 balls at Rhythmic Gymnastics World Cup in Baku
Final day of Rhythmic Gymnastics World Cup starts in Baku - Azerbaijani graces competing for medals (PHOTO)
Industrial enterprises to be put into operation in Iran’s Tehran Province
Azerbaijani Economy Ministry announces winner of tender on assessment of feasibility study
Turkey discloses number of ships received by Bandirma port from Jan. through March 2021
Azerbaijani president, first lady pay tribute to Azerbaijanis who made unparalleled contribution to victory over fascism (PHOTO/VİDEO)
EU and India agree to resume trade talks at virtual summit
Azerbaijan strongly condemns attempts to distort truth about WW2, justify fascism - MFA
First Vice-President Mehriban Aliyeva makes Instagram post on Victory Day over fascism (PHOTO)
India's COVID-19 tally surpasses 22 mln with over 400,000 new cases
China’s Long March-5B carrier rocket’s last stage enters atmosphere
Brazil sees 2,202 more COVID-19 deaths
Red Cross to hand over Georgia 100 thousand Sinopharm vaccine shots
Russia's 2M2021 import of Turkish cars grows in value
Turkey reports 18,052 new COVID-19 cases, 5,016,141 in total
“Covo-Pasteur”, “Barakat” vaccine to hit market soon: Rouhani
Daily COVID-19 case count at 2,350 in Kazakhstan
China reports 12 new COVID-19 cases vs seven a day earlier
Chile reports third consecutive day of over 6,000 daily COVID-19 cases
UN remembers the dead of WWII
2 people, including child, shot in NYC Times Square
Attack on Syrian government forces repelled in Idlib, at least ten militants killed
WHO records over 817,000 new daily cases of COVID-19 worldwide
Iraq decides to quarantine evacuees from India for 14 days as total cases hit 1,108,558
UK records another 2,047 coronavirus cases, 5 deaths
Azerbaijan marks Day of Victory in Great Patriotic War
Iranian trucks do not transport goods to Karabakh - Iranian embassy
NCDC: Georgia to receive extra half a million Sinopharm vaccine doses in June
Iran may extend cooperation on inspections with IAEA
Consumers must protect IoT devices - Fortinet
Azerbaijan’s Baku city has beautiful National Gymnastics Arena – Russian gymnast
Baku holds awarding ceremony of Rhythmic Gymnastics World Cup (PHOTO)
Azerbaijani team reaches finals in group exercises as part of Rhythmic Gymnastics World Cup (PHOTO)
WB plans to issue loan to finance another road project in Azerbaijan
Any attempt to glorify fascism is disgusting - Russian expert
Group team competitions underway in Baku as part of Rhythmic Gymnastics World Cup (PHOTO)
Azerbaijani ADA University sсreens film timed to Day of Victory in WWII (PHOTO)
Azerbaijan names finalists in exercise with clubs as part of gymnastics World Cup in Baku
All news