Minister for Economic Development supports development of portfolio investments in Azerbaijan

Business Materials 5 May 2006 17:46 (UTC +04:00)

The Ministry of Economic Development supports the development of portfolio investments in Azerbaijan. This should be developed and definite attention is paid to it. For the time being the portfolio of investment put in the country remains to be small, Heydar Babayev, the Azerbaijani Minister for Economic Development told Trend.

The European Commission will assist Azerbaijan in the development of state strategy on the application and development of portfolio investments in Azerbaijan. The development of the project is part of a project on the improvement of an investment climate, which was included in the Tacis national action plan for 2006 Fiscal Year. The budget of the 2-3 year project is 3m euros.

In the previous project of Tacis stipulating development of securities market set up the development of corporate bond segment. The cost of the project was 1.3m euros, while the investments in it will shortly increase its budget.