Six key factors are needed for the success of infrastructure projects, said Sunniya Durrani-Jamal, Country Director of the Asian Development Bank for Azerbaijan, at the 1st Azerbaijan International Investment Forum, APA-Economics reports.
She said that firstly, it should be accepted that states cannot meet their large infrastructure needs solely through budget funds: "Secondly, it is necessary to create the right legal and regulatory environment to attract investments. Third, it is important to prepare projects in an efficient and sustainable manner for financial institutions. Fourth, to ensure investor interest, projects should be properly presented, and market consultations should be conducted. Fifth, the potential of local contractors should be taken into account and the necessary opportunities should be created for the implementation of projects. Sixth, the opportunities of international financial institutions should be used to mobilize private capital and reduce financial risks."