Statement by President Ilham Aliyev at the Cabinet meeting on plans to create conditions for increasing foreign investment caused skepticism among independent experts. "In order to attract foreign investment, in the first place, the country should have normal judicial system," told Natig Jafarli, Executive Secretary of REAL Movement.
There may be some political and other problems in the country, but an indispensable condition for attracting foreign investment is the existence of an independent judiciary. "The situation with oil contracts was different. Behind them was a state support and guarantees, and therefore it was possible to attract large investments," said Jafarli.
Small investments in the non-oil sector are explained by the absence of such a reliable supply, as an independent court. It is for this reason foreign investors refrain from investment in Azerbaijan, said on.-05B-
Economics
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Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
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Over 17,750 life insurance contracts and 40,661 property insurance contracts were signed through Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF) between 2022 and 2024, reflecting the growing role of the Fund in strengthening the housing finance and insurance markets. These figures were revealed by Rasim Abdullayev, Director of the Mortgage Lending Department at MCGF, during the seminar "Tools for Supporting Housing Finance and Entrepreneurship."
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The value of paid services provided to the population in Baku reached 6.94 billion manats in the first eleven months of 2024, reflecting a real-term increase of 9.2% compared to the same period in 2023, according to data from the Baku City Statistical Department.
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According to data from the Baku City Statistical Department, the retail trade turnover in Azerbaijan’s capital, Baku, increased by 5% year-on-year from January to November 2024, reaching 31.6 billion manats. This growth reflects the steady recovery of the economy and consumer confidence amid broader market stability.
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