In the first half of 2012, the economy of Azerbaijan received $ 4.7 billion in foreign investments (including loans from international financial institutions and banks), which is 36.8% more than in the same period last year. The majority (46.2%) of investments accounted for by private equity.
The State Statistics Committee (SSC) of Azerbaijan told Turan that during the first half of this year, foreign direct investment amounted to $ 2.2 billion, which is 26.9% higher than in the same period of 2011. In the SSC they found it difficult to reveal the structure of foreign direct investments from various countries, referring to the fact that this is preliminary data.
The oil and gas sector continues to be the most attractive to foreigners: in January-June 2012, 85.5% or $ 1.9 billion was directed to this sector.
In 2011 the volume of foreign investments in Azerbaijan's economy was $ 8.7 billion, of which 49.5% was contributed in direct foreign investment. The top three in terms of investments in Azerbaijan's economy included the Netherlands, Great Britain and Turkey. - 08B-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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