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    Azerbaijan spotlights foreign investment data in economy over 20 years

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    By Aytaj Shiraliyeva

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    Azerbaijan spotlights foreign investment data in economy over 20 years

    BAKU, Azerbaijan, October 7. Over $344 billion
    in foreign investment has been poured into the country’s economy
    from 2004 through 2024, Azerbaijan’s First Deputy Minister of
    Economy Elnur Aliyev said at the Halal Business Forum in Baku,
    Trend reports.

    As reported by Trend on Tuesday, this was announced by
    Azerbaijan’s First Deputy Minister of Economy Elnur Aliyev at the
    Halal Business Forum in Baku.

    According to him, Azerbaijan has achieved significant success in
    diversifying its economic model. The socio-economic reforms and
    integration into the global economy have created broad and
    favorable opportunities for leading international companies to

    “More than $344 billion has been invested in the country’s
    economy from 2004 to 2024, of which about $213 billion has been
    directed to the development of the non-oil sector. Recently, as
    part of the First Azerbaijan Investment Forum, documents were
    signed for projects with a total value of more than $10 billion,
    reflecting the confidence of foreign investors and the stable
    investment environment in the country.

    Currently, the share of the non-oil and gas sector in the total
    economy has reached 68 percent, and further growth in this
    indicator is expected by the end of the year. Thanks to the reforms
    and business support mechanisms being implemented, the private
    sector accounts for about 81 percent of the country’s economy,” he

    Aliyev noted that Azerbaijan’s advantageous geographical
    position makes it a strategic center of regional economic policy.
    The volume of transit cargo transportation through the Middle
    Corridor is growing year by year, and with the launch of the
    Zangezur Corridor, this figure will increase even more.

    “The modern infrastructure created in the country – the Baku
    International Sea Trade Port, the Alat Free Economic Zone, as well
    as a developed railway network – provides investors with direct
    access to global markets and high transit efficiency,” the deputy
    minister stressed.

    According to him, industrial zones, modern transport and digital
    infrastructure, as well as human capital, create a solid platform
    for the production of competitive products and the development of

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