Azerbaijan plans to attract foreign investment in housing construction

Azerbaijan plans to attract foreign investment in housing construction

Implementation of the “Strategic Roadmap on the advancement of provision with affordable housing in the Republic of Azerbaijan” has been discussed at the Economic Reforms Analysis and Communication Center.

Report informs citing the Center that during the discussions Center's executive director Vusal Gasimli said it is planned to carry out 2 strategic goals, 6 strategic priorities and 18 events to implement this roadmap. These instructions mostly include the projection of provision with affordable housing and raising the level of implementation, and reducing the executive costs of the projects as a result involving free municipal lands in housing construction.

In addition, saving the costs of projects through ensuring full-fledged competitive environment, rendering most of the services provided by "MIDA" LLC through the e-government portal, reducing the problem of urbanization, reducing the average housing construction time, improving the housing conditions of refugees and IDPs who have not yet been provided with housing and attracting foreign investment in the country's construction sector are also listed among the priorities.

Notably, the discussions of the strategic roadmap involved representatives of the Presidential Administration, State Housing Development Agency of the Republic of Azerbaijan, Ministry of Justice, Ministry of Economy, Azerbaijan Investment Company, MIDA LLC and Azerbaijan Mortgage and Credit Guarantee Fund. 

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