BAKU, Azerbaijan, October 14. The Azerbaijani people's interest in investments is growing rapidly, Director of Digital Products, Projects and Business Process at Unicapital Investment Company Vugar Namazov told Trend.
According to him, Azerbaijani citizens are aware that investment is a way to make money work for them, so consumers of financial services are paying more and more attention to the mentioned sector.
"Azerbaijani consumers understand that investing in traditional financial institutions is less profitable. Furthermore, citizens can purchase shares of a particular company in order to earn money through various financial instruments. Thus, Azerbaijani investors realize the advantage of investing in financial institutions and the capital market, rather than in traditional markets," Namazov said.
He emphasized that the investment ecosystem of Azerbaijan has developed in three stages: the introduction of privatization in 1997, the establishment of the Baku Stock Exchange (BSE), and the current development stage.
"In 1997, Azerbaijan adopted the first state privatization program and established the National Depository Center, which kept records of shares of privatized companies. Later, the BSE was set up in 2020. Our investors hold active investment positions in foreign markets, and Unicapital is making efforts to facilitate their impact on the local market," Namazov stated.
He also noted that the capital market is moving towards retail investors.
"Market analysis demonstrates that the retail business is the major driver of financial and investment markets," Namazov added.