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Rufat Mammadov: â€œAzerbaijan has a stable developing economyâ€

12 March 2014 08:42 (UTC +04:00)

Baku. Agshin Rafigoglu – APA-Economics. Azerbaijan has chosen the strategy to have developed economy, chairman of Azerbaijan Export and Investment Promotion Foundation (AZPROMO) Rufat Mammadov said at Azerbaijan Investment Summit in Baku, APA-Economics reports.

He said it is very important for Azerbaijan to develop non-oil sector.

“Last year GDP in non-oil sector grew by 10%. Labor market is growing in Azerbaijan, the country has a stable developing economy,” he said.

He said Azerbaijan’s investment rating rose in the past year.

“Azerbaijan has commercial relations with 140 countries, the country’s transport infrastructure is increasing. Baku-Tbilisi-Kars railway project is about to end. Azerbaijan is playing a leading role in TAP and TANAP and other projects,” he said.

Rufat Mammadov said Azerbaijan’s Doing Business index is growing.

“We do not differentiate between foreign investors and local investors. Similar conditions are being prepared for them. Large investments have been made. The country’s economy has recently grown, this is connected with the development and role of the private sector,” he said.

AZPROMO chairman said Azerbaijan is implementing “Vision into the Future - 2020” strategy.

“This program focuses on transport, logistics and development of regions. The top priority is to attach importance to the human capital. In the coming years the development of agriculture and processing will make 45% of the GDP. Incomes have been generated in the tourism sphere in Azerbaijan, this attracts foreign investors. ICT has developed much,” he said.