Azerbaijan, Baku, Aug.10 / Trend N. Ismayilova /
More than $1 billion was invested in the Nakhchivan Autonomous Republic of Azerbaijan (NAR), NAR Economic Development Minister, Famil Seyidov, said at the Azerbaijani-Latvian forum on investment opportunities of the NAR in Baku.
Nakhchivan is one of the leading regions of Azerbaijan for economic growth and dynamic and the government calls the foreign investors, including the Latvian investors, to invest in the region, Seyidov added.
Recently, 70 schools, 67 health facilities and more than 4,000 social facilities have been built in the NAR, Seyidov added.
Despite the difficulties which evolves due to the long-lasted blockade of the region by Armenia, complicating the transport communication with rest part of the country, NAR could achieve the economic growth, Azerbaijani Economic Development Deputy Minister, Niyazi Safarov said.
The economic growth of the country upped by 2.5 times and industrial production by 2.6 times for the last five years. Azerbaijan established trade relations with 140 countries.
The non-oil sector is the priority of the country and it increased by 4.1 percent and GDP by 3.6 percent in January-July of 2009, Safarov added.
The business-forum was held as a part of Latvian President Valdea Zatlers' visit to Azerbaijan.
The Azerbaijan Economic Development Ministry, the Azerbaijani Export & Investment Promotion Foundation (AZPROMO) and Latvian Embassy in Azerbaijan arranged this forum.
The Latvian delegation includes the Latvian governmental officials and group of Latvian businessman, who are willing to discuss the prospects of broadening the Latvian-Azerbaijani cooperation with their Azerbaijani counterparts. About 100 Azerbaijani and Latvian entrepreneurs took part in the forum.
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