Azerbaijan's investment attractiveness increases after liberation of its lands, minister says
The investment attractiveness of Azerbaijan increased after the liberation of its territories from the Armenian occupation, Azerbaijan’s Minister of Economy Mikayil Jabbarov said during an online panel session within the 7th World Investment Forum dedicated to sustainable investments.
During the forum, the minister also provided information on the impact of the COVID-19 pandemic on the national economy, measures to support the government of Azerbaijan and the priorities of the country's socio-economic development until 2030.
“Azerbaijan is constantly improving the business and investment environment, improving legislation, simplifying the process of registering a business, as well as administrative procedures. In addition, work is underway to develop public-private partnerships, digitalize public services,” Jabbarov said.
He noted that attracting local and foreign investments to the economy, ensuring sustainable development of the non-oil sector is of particular importance for comprehensive support for the recovery of the Azerbaijani economy in the post-pandemic period.
According to the minister, an effective mechanism for reviving investment activity is the creation of free economic zones.
Jabbarov stressed that the Azerbaijani center of the Fourth Industrial Revolution is an important platform for the development of the country's digital ecosystem, as well as the development of a ‘green' economy and attracting investment.
The forum was attended by the ministers of economy, industry, trade and investment of Turkey, Russia, China, Germany, the UK, Korea, Mexico, Thailand, Egypt and other countries.
The World Investment Forum held biennially brings together more than 5,000 investors from 160 countries.