BAKU, Azerbaijan, July 22. The total foreign direct investment (FDI) in Azerbaijan’s non-oil sector amounted to $11.1 billion from 2012-2021, Trend reports via "Strategy for socio-economic development of Azerbaijan for 2022-2026".
According to the strategy, foreign investments played an important role in the rapid development of the non-oil sector of the country.
"Foreign investments are aimed at developing a competitive chain in high-performance industries and creating a modern infrastructure. The active attraction of foreign investors is due to a favorable business environment and macroeconomic stability," the strategy said.
According to the Central Bank of Azerbaijan, from January through March 2022, FDI in Azerbaijan grew by 28.6 percent compared to the same period of last year, to $1.8 billion. The total amount of foreign investments in the non-oil sector amounted to $735.2 million (an increase of 4.9 times over the year).