83.3% of Foreign Investments Undertaken in Oil and Gas Sector in 1st Quarter
Azerbaijan, Baku / corr Trend I.Khalilova / The State Statistics Committee of Azerbaijan has confirmed the initial data of foreign investments undertaken within the Azerbaijani economy in the first quarter of 2007.
The Committee reported on 15 May that the total amount of foreign investments made up $1,017.1mln. 90.2% of the total, or $917.4mln was from direct investments, while 8.6%, of $87.7mln, was invested in economy in the form of financial crediting.
Compared to the first quarter of 2006, investments in the oil and gas sector were reduced by 7.3%. However, their special weight in the amount of total investments made up 83.3%. During this period joint ventures and enterprises with foreign investments put $70mln in the non-oil sector of the country, while their investments increased by 4.9%.