American expert names priority areas for investment in Azerbaijani economy

Baku/16.11.22/Turan: In Azerbaijan, there are opportunities for investment in the oil and gas sector, agriculture, technology and other areas, an American investor, World Bank expert on primary financing and private investment Patrick McGinnis  said yesterday at a briefing for Azerbaijani journalists at the US Embassy. He noted that oil is the main factor in the economic development of Azerbaijan. “However, now in many countries of the world they understand that the future belongs to digital technologies,” the expert said. In his opinion, there are normal conditions for business in Azerbaijan.

Commenting on the question of how the sectors of the Azerbaijani economy are the most promising and where it is profitable to invest, the expert noted that "there are interesting opportunities in the oil and gas sector, as well as agricultural technologies." McGinnis also noted the field of information technology.

“Information technology is one of the most interesting areas in this region. In Azerbaijan, many companies are already interested in this area and IT is in the center of their attention,” the expert noted. He also called government support for entrepreneurship an important factor.

“It is also important that the government pays attention to ensuring that the country's educational system contributes to the success of people with technical abilities,” the expert believes. ---16B---