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More than $180 billion have been invested in the Azerbaijani economy over the past 11 years

22 May 2015 19:50 (UTC +04:00)

Baku-APA. “More than $180 billion have been invested in the Azerbaijani economy over the past 11 years. This is the result of the stability and a normal business environment in the country,” said President Ilham Aliyev in his interview to “The Business Year” magazine.

The head of the state expressed that in 2014 alone, $27 billion was invested in the economy, including $11 billion of foreign investments: “This attests to the fact that Azerbaijan remains an attractive country for foreign investors. The attraction of such a large volume of investments can be regarded as a major success for any country.

On March 3rd, 2014, an executive order on additional measures toward entrepreneurship development was signed with the aim of improving state regulation of business and creating a favorable business landscape in the country. We are taking consistent measures to further improve the business environment, create a sound competition, simplify the procedures for starting a business, enhance state support for private enterprise, modernize corporate governance, and protect investor interests.”

The President noted that it is no coincidence that our achievements in private enterprise development have drawn the attention of international economic and financial institutions: “According to the World Bank’s Doing Business 2015 Report, Azerbaijan is among the world’s top 10 reformist countries. Azerbaijan is ranked in 10th in the world for ease of immovable property registration and 11th for starting a business.

The Economic Freedom Index-2014 report jointly prepared by the Heritage Foundation and Wall Street Journal lists Azerbaijan in 81st place among 186 countries in terms of economic freedom. The macroeconomic stability, the sustainable development of the non-oil sector, the presence of a strong financial potential, a sound competition, and a favorable investment environment gives both foreign investors and local business people further confidence of the future.”