BAKU, Azerbaijan, May 18. Azerbaijan has created a favorable business environment for investors, President of the Republic of Azerbaijan Ilham Aliyev said addressing the Azerbaijan-Lithuania business forum, Trend reports.
"We are pleased with direct foreign investment, which amounts to tens of billions. Diversification of the investment portfolio of foreign companies is also very important. Whereas in the early days of our investment programs investments were made mainly in the oil and gas sector, we are seeing foreign direct investment being made in the field of renewable energy now. At the beginning of this year, two major contracts were signed with investors for the construction of a 470 megawatt solar and wind power plant, which is an indicator of a favorable investment environment in the country," the head of state said.