Azerbaijan Government Considers Service Sector Future of Country’s Economy

Business Materials 4 September 2008 19:17 (UTC +04:00)

Azerbaijan, Baku, 4 September /corr. Trend U.Ismaylova / "The Government of Azerbaijan takes all measures to improve business environment and attract foreign investors in the non-oil sector," said the Minister of Economic Development of Azerbaijan, Heydar Babayev on 4 September.

"I see the future of Azerbaijan's economy in the development of the service sector," the Minister said.

According to Babayev, oil production can be paused, and then the country will be able to provide transit services for the transport of the energy resources of the countries of Central-Asian region.

The Minister emphasized that in order to increase the image of country and attract foreign investors the government regularly works over the improvement of the legislative base, improvement of the business environment, reduction in the administrative barriers.

Babayev said that the Government spends huge monies on construction of roads, restoration of railway lines, attempting to create alternative for other countries.

"We want to make Azerbaijan an attractive country for the foreign investors in the direction of transit, services. It is very important for us to develop by non-oil sector," noted the Minister.

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