BAKU, Azerbaijan, Jan. 13
Trend:
Foreign investors are well aware that our word is as valuable as our signature, President of the Republic of Azerbaijan Ilham Aliyev said addressing the groundbreaking ceremony for the 240-megawatt “Khizi-Absheron” Wind Power Plant to be built in Azerbaijan by ACWA Power of the Kingdom of Saudi Arabia, Trend reports.
“Of course, the role of our bilateral interstate relations is very important here, but at the same time, the reforms carried out in Azerbaijan in recent years, including the energy sector, the good investment climate, the successful development of our country, the stability, peace and security – all these factors have played an important role for every investor. Also, foreign investment is protected in Azerbaijan at the highest level. Foreign investors are well aware that our word is as valuable as our signature. The Contract of the Century signed in this magnificent Gulustan Palace in 1994 has been implemented for many years, and not a single word, not even a comma, has been changed in that contract. Our attitude to all other contracts and agreements with major foreign companies is similar. Therefore, $10 billion has been invested in Azerbaijan. This investment continues. In particular, the global financial crisis, as well as the natural decline in economic activity due to the pandemic – all these are negative factors. Nevertheless, the brotherly country's company has decided to invest extensively in Azerbaijan, and today we are laying the foundation for a 240-megawatt wind plant to be built in Khizi district,” the head of state said.