The Foundation for the Promotion of Exports and Investments in Azerbaijan (AZPROMO) and the Azerbaijan Diplomatic Academy (ADA) will organize presentation on "Business Opportunities in Africa" in Baku on October 11. This is the first thematic campaign by AZPROMO by agitation of local entrepreneurs to invest outside the country.
In AZPROMO they said the presentation is devoted to the four most promising countries from the point of view of economic development - Angola, Namibia, Botswana and South Africa. Profiles of these countries have been created and the potential for the development of Azerbaijan's business there was evaluated. Basically it is agriculture, energy, telecommunications, construction and tourism.
In recent years, ADA arranged training courses with diplomats from several countries in Africa.
Azerbaijani entrepreneurs prefer to invest primarily in the CIS countries, Europe, the Baltic states, Georgia and Turkey. - 08D-
Economics
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Azerbaijan’s oil and condensate production and exports saw a marked decrease during the period from January to September 2024, continuing a downward trend compared to previous years.
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Investments in fixed assets in Azerbaijan totaled 12.7 billion manats ($7.5 billion) in the first nine months of 2024, down 3.9 percent compared to the same period last year, the State Statistics Committee said on Monday. Investment in the oil and gas sector fell by 8.4 percent, while investment in the non-oil and gas sector dropped by 1.6 percent.
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Industrial production in Azerbaijan rose by 1.3% year-on-year in the first nine months of 2024, reaching 47.8 billion manats ($28.2 billion), the State Statistics Committee reported on Monday. The growth was driven by a 0.6% increase in the oil and gas sector and an 8.7% rise in the non-oil and gas sector.
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As of September 2024, the labor market in Azerbaijan has demonstrated active activity, total employment has reached 1,754.9 thousand people. The labor force is almost equally divided between the state and non-state sectors, which employ 878.3 thousand and 876.6 thousand people, respectively, according to the State Statistics Committee.
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