Jabbarov invites Georgian & Turkish entrepreneurs to start business in Azerbaijan

Foreign investments in Azerbaijan’s economy this year alone, for 11 months since the beginning of 2021, have amounted to $57 million, Economy Minister Mikayil Jabbarov said at the Azerbaijan-Georgia-Turkish business forum in Baku, Report informs.

In turn, Azerbaijan is also increasing investments in the economies of other countries, he noted.

In addition, investments in Azerbaijan’s non-oil sector make up about 25% of the total volume, he said.

According to Jabbarov, the growth of Azerbaijan’s GDP for 11 months amounted to 5.3%, and the growth of the non-oil industry stood at more than 6%.

“Our government aims to turn Azerbaijan into a technological (IT), transport and investment hub of the region. We invite you to start a business in Azerbaijan,” the minister said, adding that the country’s GDP by the end of the year will exceed $50 billion.

Following 11 months of this year, the Azerbaijani GDP growth rate amounted to 5.3%, including 6.4% in the non-oil sector. As for the growth of exports of non-oil products, in the reporting period this figure is 44%, he said, stressing that the dynamics will be maintained until the end of the year.