Belgian MP: Azerbaijan has good potential, contributing to attracting foreign investors to country

Business Materials 17 September 2010 19:52 (UTC +04:00)

Azerbaijan, Baku, Sept. 17 /Trend N.Ismayilova/

Azerbaijan has good potential, which contributes to attracting foreign investors to the country, a Belgian MP, businessman Ivan Sabbah said Friday in Baku. He attended an international conference "Azerbaijani model of economic development".

"The country also has the opportunity to further develop the potential of oil and gas sector, and the incomes gained from this sphere can be directed towards the development of other sectors in form of long-term investments," said Sabbah.

According to him, Azerbaijan possesses large potential, huge reserves of natural resources, introduces European standards, and all these contribute to attracting foreign investors to build economic infrastructure.  

Azerbaijan's share in the economy of the South Caucasus is over 75 percent, Economic Development Minister Shahin Mustafayev said today during his speech at the international conference.

Mustafayev added that Azerbaijan has an independent and stable economy, relies on its own resources, and is rapidly integrating into the international community.

"Macroeconomic stability will be preserved to ensure economic growth, and systematic measures will be held to strengthen energy, environment and food security, to expand the country's diversification, to improve the business environment and to support the development of the agrarian sector."

According to Mustafayev, his policy is aimed at developing human capital and bringing the level of unemployment in the country to a minimum, as well as reducing poverty and increasing social expenditures in the public budget to improve living standards.