VTB interested in Azerbaijan’s agriculture, transport projects
Baku, Azerbaijan, Nov. 2
By Maksim Tsurkov – Trend:
VTB Bank Azerbaijan is interested in the projects in agriculture and transport implemented in Azerbaijan, Mikhail Oseevskiy, deputy president and chairman of management board of VTB Bank, chairman of the VTB Bank Azerbaijan supervisory board, said Nov. 2.
“All that can be produced in appropriate quality will be in demand in Azerbaijan. This includes food, agriculture products, building materials, clothing and footwear,” Oseevskiy said. “For example, we see that in two years investments in agriculture became very popular in Russia, while there has been a drop in oil prices. Even VTB, which does not specialize in lending to the agricultural sector, increased its portfolio twofold."
Nowadays, there is high profitability in the agrarian sector, he noted.
Oseevskiy said that the volume of Russian grain export exceeded the income from the sale of weapons within two years.
“We earn $16-17 billion from the sale of grain, and Russia has become one of the largest exporters. Obviously, this segment can and should develop well in Azerbaijan. Another thing is that, this is a de-structured market, which does not provide the necessary budget revenue,” said Oseevskiy.
He added that Azerbaijan has a number of advantages that can be used in the development of the agrarian sector.
Oseevskiy named the transportation and logistics the second area of interest.
“This segment is related to the movement of goods from east to west and vice-versa, and substantial investments are needed to create the necessary infrastructure, the system of railways, ports and roads,” Oseevskiy added.
“This segment comprises creation of modern warehouses on the borders with Russia and Iran. This is the reason why this segment is interesting and worthy of attention in terms of business,” he explained.
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