Politics Materials 26 August 2005 13:39 (UTC +04:00)

The US government is interested in successful investment policy of Azerbaijan, the US Ambassador to Azerbaijan Reno Harnish stated on 26 August at the presentation of the project “State Investment Policy of Azerbaijan and its Efficiency” (SIPE), Trend reports.

The Ambassador noted, the SIPE project is a part of the strategic cooperation between Azerbaijan and the USA in the economic field. In the opinion of Harnish, the efforts on the investment planning in Azerbaijan are to be coordinated for the oil revenues to be more efficient.

В"Oil and gas are exhaustible resources, therefore they must be used in an appropriate way”, Harnish underlined, and the activities of the Ministries of Economy and the Economic Development of Azerbaijan in this respect should be united. The donor organizations play also a certain role in it, particularly, the World Bank, the American diplomat considers.

Along with this, the American diplomat stressed the necessity for developing the policy of investing the municipalities, noting, a number of trainings will be held within the SIPE project. В"For today, not only experts of the World Bank, but also the specialists from the USA“, Harnish noted, underlying, the US government is deeply interested in the successful implementation of the SIPE project.

According to Harnish, in the world practice, especially in the period between 1960s and 1990s, economic crises occurred not once in the states with rich natural resources, what is related to the lack of the state planning.

В"Implementation of this specific project will affect favorably the life of the ordinary people of Azerbaijan. To this end it is required to consolidate efforts on the strategic planning of the state investment policy”, the US Ambassador said.

It should be noted, the SIPE project is implemented by the International Agency for Development of the USA (USAID) and elaborated under the support of the Ministry of Economic Development of Azerbaijan. The project works will complete at the end of 2007.