The Department for the Development of Entrepreneurship of the Azerbaijani Ministry of Economic Development sent the Islamic Bank for Development a list of projects including a short description, which is to be compiled into a brochure and presented to businessmen from Arab countries who will be participating in an investment conference with the participation of Arab financial institutions.
Samir Nuriyev, the head of the Department, informed Trend that the IDB agreed to assist in the organization to enable businessman to become familiar with the projects beforehand and held talks during the conference on concrete projects with the Azerbaijani businessmen.
According to Nuriyev, a total of 33 projects dealing with the food industry, extractive industry, tourism and other non-oil sectors of the economy were presented by local private companies in search of strategic investors.
The conference is organized at the expense of an IDB grant of $274,000.
The conference is scheduled for 8 - 9 November 2006. The Ministry of Economic Development and the Azerbaijani Fund for Promoting Export & Investments (AZPROMO) are also involved in the organization of exhibitions of local producers. Some 35 Azerbaijani companies representing different areas in the non-oil sector of economy are expected to be in attendance. In general 200 guests are expected to participate in the Forum.