New mechanisms for attracting foreign direct investments will be formed in Azerbaijan

New mechanisms for attracting foreign direct investments will be formed in Azerbaijan

During 2022-2026, new mechanisms will be formed to direct foreign direct investments (FDI) to priority economic areas, and direct dialogue mechanisms with investors will be implemented.

“Report” reports that this is the “Socio-economic development of the Republic of Azerbaijan in 2022-2026” approved by President Ilham Aliyev Strategy“is reflected in

“The optimal use of the financing potential of international development institutions, especially institutions specializing in the financing of private sector development, will be ensured, and as a result, the volume of FDI in the non-oil/gas sector will increase annually 10‒15 % will increase”, the strategy says.

It was noted that the attraction of direct foreign investments in the non-oil/gas sector will be encouraged, and the transformation of state-owned assets into the private sector will take place.

“With the exception of strategic areas, privatization of state-owned legal entities and financing of the economy with public-private partnership mechanisms will be implemented. The effectiveness of state investments will be increased, and its potential for stimulating private investments will be increased.

The economic efficiency of the activities of state-owned legal entities will be increased, their management will be improved, and their transparency will be increased: “The efficiency, financial stability and competitiveness of state-owned legal entities under the management of Azerbaijan Investment Holding will be increased. The direct participation of the state in the economy will be optimized, except for strategic areas, state-owned “Measures will be implemented in the direction of gradual privatization of existing assets, which will reduce the demand for state resources and risks. Also, further improvement of efficiency indicators will be achieved through the commercialization or management of economic entities whose privatization is not considered appropriate for a certain period of time,” the strategy stated. .

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