BAKU, Azerbaijan, April 12. There is a great interest in Azerbaijan as a result of ongoing transformation, transparency and personnel reforms, as well as due to our victory in the second Karabakh war, President of the Republic of Azerbaijan Ilham Aliyev said during a meeting dedicated to the results of the first quarter of 2022, Trend reports.
"In the post-conflict period, of course, we have taken all our
steps in relation to the economy, to the restoration of our
territories in a calculated and prudent manner, and the results are
obvious. All plans for the post-conflict period in Azerbaijan are
being implemented. The international community has acknowledged
these realities from a political point of view. At the same time,
the interest in Azerbaijan has increased – both respect and
interest. We are seeing this interest in large-scale investment
projects. In just three months of this year, two major investment
projects were launched – the foundation of two renewable energy
plants was laid. The 470-megawatt power plants are being built by
foreign investors and will be commissioned next year. We can thus
save up a large amount of natural gas and expand our export
opportunities. At the same time, I think this is a very important
issue for other investors. At present, there is a great interest in
Azerbaijan as a result of ongoing transformation, transparency and
personnel reforms, as well as due to our victory in the second
Karabakh war. There are many applications for working together and
establishing business relations. Azerbaijan today is one of a
handful of countries in the world that has been able to attract so
much interest.
Our economic indicators are also very positive. The results of the
first quarter hardly need any explanation. The gross domestic
product has increased by 6.8 percent. The world is entering a
post-pandemic period, so to speak. It may be a little premature to
use the word “post-pandemic”, but in any case, the current
situation in the world and in Azerbaijan indicates just that.
Therefore, I think that our economic growth of 6.8 percent can be
viewed a tremendous achievement. In the non-oil sector, this is
measured by even higher figures. Our non-oil economy has grown by
more than 10 percent. Growth in industrial production is about 4
percent, but in non-oil industrial production it is more than 18
percent. These figures in themselves confirm the words I am saying.
The diversification of the economy, the reduction of dependence on
the oil and gas sector, the decline in both its share in the GDP
and exports – all these are a reality," the head of state said.