Baku Hosts International Conference on Investments

An international conference on investments with the support of the Islamic Development Bank Group has opened in Baku.

According to Economy Minister Shahin Mustafayev who spoke during the opening, the bilateral relations were established in 1992. During this time the bank invested $1 billion in Azerbaijan's economy for the implementation of 18 projects, 14 of which have already been completed. In addition, the Islamic Corporation for Development of Private Sector (ICD) has spent $ 130 million within 14 projects, focusing on support for small and medium-sized businesses.

Speaking about the oil industry, the Minister said about its attractiveness to foreigners - they got a double dividend income from invested shares. In addition, the International Court of Arbitration has not yet received complaints in connection with the claims of foreign investors, because their funds are guaranteed at the governmental level.

Recall, from 1995 to 2016 the total volume of financial investments in the economy of the country was at the level of 184 billion 75.2 million manat (average rate of $ 219 billion 216.2 million, almost half of which ($ 106 billion 195.9 million) fell on the share of foreign partners.

The conference is attended by 50 foreign investors. --17D-