Most foreign direct investments in Azerbaijan fall to oil and gas sector
Azerbaijan, Baku, Sept.15 / Trend I. Khalilova /
The total foreign capital invested in the Azerbaijani economy in the first half of this year in the form of direct investments reached $1.460 billion, the Central Bank of Azerbaijan reported yesterday. Roughly 80.5 percent accounted for the oil and gas sector.
Investments in the sector increased by 6.07 percent to $1.175 billion compared to 2009.
The investments were used to finance construction activities under major oil projects implemented by BP Exploration Ltd. and the Azerbaijan International Operating Consortium at the Shah Deniz and Azeri-Chirag-Guneshli fields.
According to assessments, the foreign direct investments in the non-oil sector reached $285 million, or 30.7 percent less than during the same period last year. Their share in the total foreign direct investments comprised roughly 19.5 percent.