Some 82 per cent of foreign direct investment in Azerbaijan falls on oil and gas sector

Business Materials 12 September 2012 15:26 (UTC +04:00)

Azerbaijan, Baku, Sept 12 /Trend A.Hasanov/

The total amount of foreign capital attracted in the Azerbaijani economy in January - June 2012 amounted to $4.4 billion, an increase of 10.2 per cent compared to the same period last year, the Central Bank of Azerbaijan (CBA) said.

Foreign direct investment in the country amounted to $2.5 billion, 81.9 per cent of which accounts for the oil and gas sector. These investments are used to finance activities in the country, mainly in oil and gas projects implemented by BP Exploration Ltd (Shah Deniz) and the Azerbaijan International Operating Company (AIOC), the Azeri-Chirag-Guneshli.

According to the CBA, the volume of direct investments attracted to the non-oil sector totalled $451.3 million which represents 18.1 per cent of the total volume of attracted foreign direct investment.