Russia ready to diversify investments in Azerbaijani economy
Azerbaijan, Baku, Aug. 18 / Trend N.Ismayilova /
Russian companies could take part in several state programs in Azerbaijan, Russian Trade Representative in Azerbaijan Yuri Shchedrin said at a news conference today.
"Promising areas for Russian investments are electricity, transport, road construction, building materials production, oilfield equipment, shipbuilding, IT technology and banking," he said.
Shchedrin said Russian companies could participate in the state programs to develop the IT and communications sector and railway transport. They could also participate in building small hydropower plants, creating alternative energy sources, developing enterprise network storage and processing agricultural products, he said.
Shchedrin noted that Azerbaijan has also shown an interest in establishing joint ventures with Russian companies in the petroleum engineering, light industry, leasing, agricultural and road-building machinery, and medical sectors.
Russia ranked ninth in the list of the top 15 countries to have invested in Azerbaijan in January-June. Russia invested 1.9 million manat mainly in the non-oil sector.