Azerbaijani analytical centre expert Leyla Abdullayeva reports that according to the socio and economic development concept for 2013 and the next three years, investment activity will be observed in Azerbaijan. The real growth rate of investments in the country at a level of 17.3 per cent is forecast for 2013.
According to the information investments are expected to reach 15.218 billion manat in 2012, 18 billion manat in 2013, 17.672 billion manat in 2014, 17.932 billion manat in 2015 and 18.189 billion manat in 2016.
It was noted that local and foreign investors show interest in the country in terms of investment attractiveness.
On the one hand, this is a dynamically developing economy with a large consumer market and solvent demand whilst on the other, rich natural resources the development of which promises huge profits and an associated unique geographical position.
The current existing gap between domestic and foreign investments in favor of domestic ones will remain in the future. This gap will be kept at a stable level – 2.3-2.7 times, which is optimal. Azerbaijan’s growing financial opportunities allow it to independently invest in the necessary economic sectors, to develop any sphere. It is expected that domestic investments will hit 11.148 billion manat, foreign – 4.07 billion manat in 2012, 12.79 billion and 5.215 billion manat respectively in 2013.
The source informs that, at present, the investments through the state line dominate the structure of domestic investments. Private investments will play a major role in the future. The infrastructure and transportation projects are being implemented. This is the foundation for attracting the private investments. The investments in the non-oil sector will remain a priority. In particular, investments in the agricultural, construction, communication, transport and tourism industries will encourage their further development. The average annual growth of the Azerbaijani economy is projected at 5.3 per cent in 2013 and the following three years. The share of non-oil production in the country’s GDP will increase from 47.6 per cent to 70.6 per cent in the medium term prospect. Steady growth of investments is also expected in the oil sector for the next two years.
