Improved WEF ranking to help Azerbaijan lure foreign investments
Baku, Azerbaijan, Sept. 27
By Azad Hasanli – Trend:
Improved position in the World Economic Forum (WEF) competitiveness ranking will help Azerbaijan attract investments from other countries, including the Arab countries, Chairman of the Cooperation of Azerbaijan and Arab Countries Association Elshan Rahimov told Trend on Sept. 27 commenting on a new WEF report.
In the updated WEF Global Competitiveness Report 2017-2018, Azerbaijan’s position improved from 37th to 35th.
“Once investors from Arab countries showed great interest in Azerbaijan,” he said. “However, then they faced different problems and fraud. So, over time they lost their interest in Azerbaijan.”
Rahimov stressed that today the situation in Azerbaijan is completely different.
“Various laws aimed at protecting the rights of investors have been adopted in the country,” he said. “But unfortunately, not everyone knows about this. Some people still have such an opinion that it is difficult to transfer the money earned in Azerbaijan to other countries. This opinion does not reflect reality.
“The law fully protects investors. If they work without violating local laws, they will not face any problems in the country, including in money transfer abroad,” Rahimov said.
Rahimov added that one of the association’s activities is connected with enlightening Arab investors about doing business, laws and investment opportunities in Azerbaijan, as well as bringing new investments into the country.