Completion of the period of chaotic Baku development, the withdrawal of foreign investors from the country, and the loss of $ 20 billion due to a one-sided economy are the leading topics of today's press.
The Azerbaijan writes about the end of the period of chaotic development of the capital, thanks to the decision of the Cabinet of February 25, 2016. The author admits that the building of the city was conducted sometimes in unusable places, which created inconvenience for the inhabitants of the metropolis. There was a violation of the principles of urban development.
The Echo published an article titled: Over Ten Billion USD of Foreign Investments Flowed from Azerbaijan. Considering the serious technological backwardness of our economy in most positions, Azerbaijan needs foreign capital, which could bring new technologies and modern management methods, as well as promote the development of domestic investments.
Some of our investors moved their offices to the same Georgia. The Azerbaijani economy in the past two years was in a state of crisis, and, apparently, a number of foreign investors considered it impractical for their continued presence in the market. In general, over two years, more than 10 billion dollars of foreign investments were withdrawn from Azerbaijan. Foreign companies are looking for other markets and find them in Georgia, Ukraine, and Kazakhstan. In general, contractors and oil service companies have left. Even some of the domestic companies that failed to withstand the monopolists" pressure have left, and some distributors of world brands have also had to leave Azerbaijan.
The Novoye Vremya writes about the loss of 20 billion dollars by Azerbaijan because of the economic crisis. In the conditions of the ongoing crisis, the volume of domestic investment falls. During this period, domestic investment decreased from 12.72 billion manat to 6.605 billion manat.
Considering that 95% of exports are oil, oil products and gas, the country's economy is not able to deal with the economic crisis. -0 ---
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