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Seminar on Azerbaijanâ€™s investment opportunities held in Washington

03 February 2011 14:51 (UTC +04:00)

Baku. Viktoriya Dementyeva â€“ APA-Economics. The United States-Azerbaijan Chamber of Commerce (USACC) organized a breakfast seminar today entitled â€œInvesting in Azerbaijan in 2011 - Oil as a Catalyst for Broader Growth.â€

According to USACC site, speakers from both the public and private sectors shared their views on growing investment opportunities in Azerbaijan, including key issues that investors should consider when investing in the country.

Nargiz Gurbanova, Economic Counselor, Embassy of Azerbaijan emphasized the importance of non-energy sectors in diversifying and improving the dynamic nature of the Azerbaijani economy, and pointed to increasing business opportunities in agriculture, ICT and tourism.

Daniel Matthews Managing Partner, Baker & McKenzie, said, oil and gas would fuel the economy. Oil will continue to be a major driver in the economy of Azerbaijan.

Mr. Matthews also said that the Integrated Petrochemical Complex in Garadagh would have a national and regional significance. With a price tag of $5-15 billion, the facility will create business opportunities for American companies in the areas of design and engineering, equipment and materials, construction and construction management, and technology. Furthermore, he added that well-known international hotels such as Hilton, Four Seasons, JW Marriot, Jumeirah, Fairmont, and Kempinski are under construction in Azerbaijan.