Baku/28.02.14/Turan : In 2013, the volume of public and private investment in Azerbaijan abroad totaled $ 1.5 billion , which is 35.6 % more than in the previous year .
Over the past ten years the export of Azerbaijani investments reached $ 8 billion , the State Statistics Committee told Turan .
GCS also revealed the structure of investments in Azerbaijan's economy . Last year, investments amounted to 22 bn or $ 28 billion , increasing by 8.7%. The volume of investments used by the oil and gas sector was 5.6 billion manats ($ 7.2 billion ) . In the non-oil sector was 16,3 billion manats ($ 20.8 billion ) , which is 7% more than in 2012 .
The share of local sources account for 62.4% of foreign investors - 37.6 % of the investment .
According to the SSC , the bulk of investments (17 872.1 million manat) was directed to the development of fixed capital. Of these, 70.7% owned by the public sector. The remaining funds were used in the financial sector .
Over the past 10 years, the volume of investments in Azerbaijan's economy totaled 155.6 billion manat - estimated to State Statistics Committee . - 08D-
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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