Azerbaijan is Good Market for Allocating Portfolio Investments AIC Head

Business Materials 8 December 2006 14:17 (UTC +04:00)

The Azerbaijan Investment Company (AIC) began the formation of a network of investors interested in participating in Azerbaijani projects. This week, two presentations were held in London and New York, the Executive Director of the Company, Anar Akhundov, exclusively informed Trend.

The familiarization meeting in Great Britain was organized by the Azerbaijan Export and Investment Foundation (AZPROMO), and in USA, the Company initiated a meeting. In addition, separate meetings were held with the foreign investors and debates were organized on the prospect of investing into the non-oil sector of Azerbaijan, as well as the possibilities of jointly investing into the projects of the country. I consider that the meetings were useful, Akhundov stated.

According to him, to attract investments, Azerbaijani enterprises should meet basic standards, corporative management and other necessary standards. AIC plans to carry out work in this respect and to offer any assistance. The British and American investors are showing an interest in various spheres of Azerbaijan, considering the macro-economical situation in the country is attractive. Azerbaijan is a very good market for allocating portfolio investments and the present situation may be a stimulus for its development. We will continue the work in this respect.

In 2007 we would like to hold our own assessment of the prospects of allocating investments into various projects and presently the key goal is to create a network of investors for joint investing, Akhundov said. According to him, the list of companies which are interested in investing in Azerbaijan is already known. An agreement has been reached with them to provide them, periodically, with the necessary information on concrete projects.