As of August 1, capital investment in the local economy amounted to 9 075 500 000 AZN (+ 3% over the same period last year).
According to the State Statistics Committee, two-thirds (67.7%) or 6 140 700 000 AZN of total capital investment was aimed at the development of objects of industrial value, the remaining 2 934 800 000 AZN was invested in the construction of the service sector.
Still bigger difference is between the internal (6 429.3 million AZN or 70.84%) and foreign (2 646 200 000 AZN) of investments.
In the oil sector in January-July there was invested 3 453 300 000 AZN or 38.1% of all the capital investments, the remaining 5 622 200 000 AZN was the share of non-oil sector. The share of construction and installation works (72.7% or 6.6 billion AZN with an annual growth of 13%) leads again to think about the control of this segment of the economy.
The share of state-owned enterprises and organizations was 48.5%, private ones - 51.5% of all the investments. -17D-
Economics
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The Green Climate Fund (GCF), an operating entity of the financial mechanism of the UN Framework Convention on Climate Change (UNFCCC) and the body responsible for implementing the Paris Agreement, has included Azerbaijan for the first time in its list of countries eligible for funding.
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The International Telecommunication Union (ITU), the Permanent Mission of the Republic of Azerbaijan to the UN Office in Geneva and the Ministry of Digital Development and Transport organized for the heads of about 30 diplomatic missions accredited in Geneva a special briefing on the initiative "Green Digital Action", which will be presented during COP29 in November in Baku, the Ministry of Digital Development and Transport of Azerbaijan reported.
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As a member of the International Renewable Energy Agency (IRENA) Council, Azerbaijan participated in the 28th meeting of this Council in Abu Dhabi (UAE).
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Azerbaijan’s imports of animal and vegetable fats and oils climbed 23.9% by weight and 16.2% by value from January to September 2024, official data revealed. Despite the uptick in volume, the import cost of these products saw a decrease compared to the same period last year, with the cost per ton of vegetable oil falling by 6.1% to $1,199.6 in 2024, down from $1,278.6 in 2023.
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