Baku, Azerbaijan, Apr. 21
By Azad Hasanli – Trend:
Baku, Nakhchivan, Mingachevir, Sumgait and Shirvan are the most attractive cities of Azerbaijan in 2017 in terms of investing, according to the Investment Rating of Regions, prepared by the country’s Center for Economic Reforms Analysis and Communication.
Such a rating has been prepared in Azerbaijan for the first time. When compiling it, international experience was used, and the approaches used in the ranking are similar to the global competitiveness index of the World Economic Forum and the EU’s Regional Competitiveness Index. The rating list covers 63 cities and districts of Azerbaijan.
This year Baku ranked first in the rating. The investment attractiveness index of the Azerbaijani capital was 0.785 percent, which is natural, given that Baku is the country’s biggest city.
Baku is followed by Nakhchivan with 0.638 percent. It is noteworthy that the investment attractiveness index of Nakhchivan has significantly increased as compared to 2016.
Mingachevir ranked the third (0.465 percent in 2017 as compared to 0.502 percent in 2016) and is followed by Sumgait (0.448 percent compared to 0.458 percent) and Shirvan (0.419 percent compared to 0.426 percent).
Cities and districts |
2017 |
2016 |
Dynamics |
||
№ |
Index |
№ |
Index |
||
Baku |
1 |
0.785 |
1 |
0.781 |
- |
Nakhchivan |
2 |
0.638 |
2 |
0.580 |
- |
Mingachevir |
3 |
0.464 |
3 |
0.502 |
- |
Sumgait |
4 |
0.448 |
4 |
0.458 |
- |
Shirvan |
5 |
0.419 |
6 |
0.426 |
+1 |
Ganja |
6 |
0.408 |
5 |
0.429 |
-1 |
Absheron district |
7 |
0.407 |
7 |
0.420 |
- |
Naftalan |
8 |
0.376 |
14 |
0.393 |
+6 |
Imishli district |
9 |
0.374 |
13 |
0.394 |
+4 |
Julfa district |
10 |
0.364 |
8 |
0.403 |
-2 |
Beylagan district |
11 |
0.351 |
17 |
0.358 |
+6 |
Gabal district |
12 |
0.350 |
19 |
0.353 |
+7 |
Ordubad district |
13 |
0.347 |
9 |
0.398 |
-4 |
Babek district |
14 |
0.346 |
11 |
0.396 |
-3 |
Barda district |
15 |
0.343 |
24 |
0.390 |
+9 |
Gakh district |
16 |
0.341 |
20 |
0.348 |
+4 |
Siyazan district |
17 |
0.341 |
37 |
0.323 |
+20 |
Gazakh district |
18 |
0.340 |
18 |
0.353 |
- |
Sharur district |
19 |
0.340 |
12 |
0.395 |
-7 |
Khizi district |
20 |
0.333 |
59 |
0.273 |
+39 |
The Investment Rating of Regions of the Center for Economic Reforms Analysis and Communication was prepared by taking into account three sub-indices: basic sub-index, efficiency sub-index and innovation sub-index.
The basic sub-index covers such indicators as education, healthcare, necessary infrastructure, quality of institutions and contribution to the economy.
The efficiency sub-index covers criteria of efficient labor market, higher education and budgetary dependence.
The innovation sub-index covers criteria of using new technologies and innovation.