Some 21 percent of direct investment made in Azerbaijan's non-oil sector

Business Materials 20 September 2011 12:46

Azerbaijan, Baku, Sept. 20 / Trend N.Ismayilova /

The total volume of foreign capital attracted to the Azerbaijani economy amounted to $4 billion during the first half of 2011, with an increase of 6.2 percent compared to the same period in 2010, the balance of payments of the Central Bank of Azerbaijan (CBA) reads.

The total amount of foreign capital in the form of direct investment in the Azerbaijani economy amounted to $2 billion, 79.1 percent of which fell to the oil and gas sector. These investments are used to finance works conducted by BP Exploration ("Shah-Deniz") Ltd and AIOC under the oil and gas projects in the Azeri-Chirag-Guneshli fields in Azerbaijan.

The volume of direct investments attracted to the non-oil sector amounted to $417.1 million, which accounted for 20.9 percent of the total amount of direct investment in the country.