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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The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change has taken a significant step towards a unified global response to climate change. On the first day of discussions in Baku, participating countries reached a historic agreement on the rules governing the creation and trade of carbon credits. This decision paves the way for the launch of multibillion-dollar carbon credit markets, to be overseen by the United Nations, potentially as soon as next year.
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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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