French and Russian Investments Rise in Azerbaijan
Azerbaijan, Baku, 16 July / corr. Trend I.Khalilova / United Kingdom continues to preserve its leading position for the amount of investments in Azerbaijan and its specific weight made up 46% in the total amount of foreign investments in the first half-year of 2008, although its investment reduced by 6.8% as compared to the same period of 2007, amounting to AZN 526.558mln, State Statistics Committee said on 16 July.
A total of 93.6% (AZN 1070.5mln) of investment, which was invested by foreign countries and international organizations in the Azerbaijani economy, belongs to investors from United Kingdom, the United States, Japan, Norway, Turkey and South Korea.
The US investment amounted to AZN 274.701mln, reducing by 17.2% (on 21.7% of specific weight), Japanese - AZN 126.838mln (11.1%), by 18.8% of reduction, Norwegian- AZN 79.199mln (6.9%), by 19.2% of reduction, Turkish - AZN 62.768mln (5.5%), by 18.7% of reduction, Korean - AZN 27.39mln (2.4%), French - AZN 12.786mln (1.1%), on 2.7 times of growth, the Iranian - AZN 9.349mln (0.8%), by 23.5% of reduction, the German - AZN 8.819mln (0.8%) by 52.3% of reduction and Russian - AZN 2.954mln (0.3%) on 3 times of growth.
The World Bank provided the biggest amount of investment- AZN 15.692mln, rising by 47.4%, on 1.4% of specific weight from the International Financial Institutions. The Asian Development Bank allocated AZN 5.512mln, by 40.1% of reduction, the European Bank for Reconstruction and Development - AZN 5.442mln (0.5%), by 14.7% of reduction, the Islam Development Bank - AZN 2.991mln (0.3%), by 16.3% of reduction, the Kuwaiti Economic Development Fund - AZN 2.446mln (0.2%), by 35.5% of rise, to realize projects in Azerbaijan.
The exchange rate on 16 July is 0.8054 AZN/USD.
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