If we are building road, asphalt is ours, bitumen is ours, gravel is ours, so why should we take external credits - Azerbaijani president
BAKU, Azerbaijan, Mar. 6
In general, I forbade the government to take external loans, President of the Republic of Azerbaijan, Chairman of the New Azerbaijan Party Ilham Aliyev said making a speech at the 7th Congress of the New Azerbaijan Party (YAP) held in a video format, Trend reports.
“Notice how much foreign investment is being made in Azerbaijan today. The main factor here is internal stability. We are at the forefront of the Doing Business program. At present, we have risen higher and are among the leading countries. Does anyone invest at least one manat in Armenia? No! You have to be crazy to invest there. Even Armenians living abroad do not invest there. Why? Because there is chaos there, there is turmoil, there is no stability, there is no leader, there is no person who can be trusted, anyone investors could trust and say that they trust in this state, in this head of state and invest there. This year, we have brought in 400-500 million dollars of foreign investment in renewable energy alone. One agreement has already been concluded, another one will be concluded this or next month. They suggested it themselves. Seven leading companies competed for these projects. Two of them presented the most favorable offers to us. They will build a solar and a wind power plant with a capacity of 440 megawatts at their own expense. Azerbaijanis will work there both during construction and operation. How much benefit will this bring us? There are so many proposals today connected with the liberated lands. We are collecting them now. We need to choose the best ones. The situation today is such that we don’t knock on some doors or ask for a loan from some bank. In general, I forbade the government to take external loans. We should take loans only for high-tech projects in order to import technologies. But if we are building a road, the asphalt is ours, the bitumen is ours, the gravel is ours, so why should we take external credits? Or similar projects. This process continues,” the head of state said.