BAKU, Azerbaijan, April 25. The FDI Intelligence journal released the top 100 cities with the highest amount of foreign direct investment in 2023, with Baku ranking third, expert economist Eyyub Kerimli told Trend.
According to him, Azerbaijan's economic opportunities are growing.
“The increased interest in investing in Azerbaijan is tied to the country's stability. The government's reforms have resulted in strong economic potential in the country. Azerbaijan completely and timely performs its duties emanating from international treaties,” he said.
The expert stated that the territories released from occupation, as well as the rest of the country, provide numerous economic opportunities.
“On the other hand, our country has started introducing new strategies and technologies, including ‘green’ ones, and Azerbaijan is at the forefront of the processes. The future holding of such a prestigious event as COP29 in Azerbaijan also has a positive impact on the inflow of foreign investments,” he added.
To note, the share of the oil and gas sector in foreign direct investments ($6.7 billion) attracted to the economy of Azerbaijan in 2023 amounted to 69.9 percent. According to the data of the Central Bank of Azerbaijan, in 2022, this indicator amounted to 71 percent. Foreign direct investment last year increased by 6.3 percent compared to the previous year.
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