The Moscow Government seeking an investment in Azerbaijan

In the capital of Azerbaijan launched "Business Marathon 2014". The organizers are the Ministry of Economic Development of Azerbaijan and the Government of Moscow. The goal is to expand business ties between businessmen of the two capitals, said during the press conference dedicated to the opening of the marathon the deputy head of the Department of Science, Industrial Policy and Entrepreneurship of the Government of Moscow, Dmitry Knyazev. According to him, Baku is not the sole beneficiary - in 2014 the business marathon was held in 40 cities in the regions of Russia and foreign countries.

The capital of Russia is a serious platform for manufacturers, as well as traders and middlemen. So it makes sense to talk about the need to establish direct industrial and trading business cooperation between the two regions, believes the official. "Technology project differs significantly from exhibitions and other similar events, especially careful preliminary study of bilateral contacts which take place within two months of preparation before the actual arrival of the project participants in Azerbaijan," said Knyazev.

According to him, Moscow has created a competitive environment and the Moscow government pays special attention to supporting and subsidizing producers. The business mission is preceded by work to explore the potential business in Baku. They have already prepared a special report to be submitted to local entrepreneurs. In addition, and most importantly, the Moscow city government provides entrepreneurs, including Azerbaijan, protection of business and investment, he added.

According to the manager of the Export and Investment Promotion Foundation (AZPROMO) at the Ministry of Economic Development, Rufat Mammadov, in the last 10 years 170 economic entities with Russian capital have been created in Azerbaijan. Foreign direct investment by Russian entrepreneurs to the local economy ($ 670 million) and Azerbaijani entrepreneurs in the Russian economy ($ 789 million) at the beginning of 2013 were about the same and allow optimistic views about the future.

According to him, there are prospects for both the oil and non-oil economic spheres. -17D-

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