Azerbaijan, Baku, July 19 / Trend, I. Khalilova /
Azerbaijan Investment Company (AIC) has invited the German companies to implement joint projects in Azerbaijan.
According to the Deputy Executive Director of AIC Zaur Mammadov, during the 11th German-Azerbaijan economic forum taking place in Baku, the priority areas for cooperation include agriculture, agribusiness (from processing to packaging and storage of food items), logistics, industrial production and tourism.
"Alternative energy, in particular, the production of wind and solar energy was also appended to the priority directions of the Investment Company. "We are also ready to consider investment opportunities in export-oriented and import substitution projects," Mammadov said
AIC projects are open to minority shareholders by purchasing equity to 25 percent. At the same time investment in one project cannot exceed 20 per cent of the capital of AIC, in a single area - no more than 35 percent.
"By investing in projects AIC also defines an exit strategy, what can happen in five years", Mammadov said.
During the four years of activity AIC has invested in various areas of non-oil sector, and the great investment has been made in projects of the shipbuilding yard jointly with SOCAR (State Oil Company of Azerbaijan). Construction of the plant is scheduled for late 2010.
In 2010, it was decided to participate in two projects - the construction of greenhouses and modernization of the textile enterprise.