Azerbaijan, Baku, Oct.18 / Trend, A.Akhundov /
Some 60.9 per cent of foreign investments in Azerbaijan's economy from 1994 to 2010 were directly the result of development in the country's oil industry according to the Azerbaijani State Statistics Committee Chairman Arif Veliyev's article published by official press yesterday says.
Veliyev said the volume of foreign investments in Azerbaijan, had increased year on year, reaching a peak last year amounting to $8.2 billion.
He went on: "In 1994, -2010 foreign investments worth $54.4 billion in the Azerbaijani economy were attracted. Some 60.9 per cent of the investments or $33.1 billion have been directed to the development of oil industry,"
He added that 68.9 per cent of foreign investments have been made in the form of direct investment. The Azerbaijani Economic Development Minister Shahin Mustafayev said earlier that today's investments in the country's economy exceeded $100 billion.