BAKU, Azerbaijan, June 8. Investments in Azerbaijan's non-oil sector increased by 51.7 percent in the first quarter of 2023, Deputy Minister of Economy Sahib Mammadov said during an exhibition of local companies themed "Heydar Aliyev and Azerbaijani entrepreneurship", Trend reports.
According to him, over the past 20 years, the Azerbaijani economy has grown by four times, and exports - by 15.6 percent.
Besides, as he noted, employment, wages, social benefits, and pensions rapidly grow.
"Azerbaijan's non-oil exports increased by 21.8 percent, and trade turnover, in particular, Azerbaijani exports, also increased," Mammadov said.
Speaking about the investment environment, he said that the establishment of free economic zones throughout the country, including in Karabakh and Nakhchivan, contributes to this growth.
"Construction and restoration work is rapidly being carried out in Karabakh, there are appropriate incentives and benefits for entrepreneurs. All this and future work will boost investments in the economy of our country," he added.
Following the liberation of Azerbaijani territories, including Karabakh, from Armenian occupation in the 2020 second Karabakh war, Azerbaijan has made significant investments in their restoration.
Over the past three years, the Azerbaijani government has invested over $6.6 billion in the restoration of the liberated territories.