The Azerbaijan State News Agency

Activities of New Azerbaijan Party assessed as satisfactory
President: Minimum wage, pensions and social benefits to be increased next year
London hosts presentation of 2nd International Media Friendship Awards
Azerbaijani and Turkish defense ministers hold bilateral meeting in Shusha
Presidential Assistant: Azerbaijan is creating new political realities in the region
Hikmat Hajiyev: Our commitment to peace received very strong reciprocity from the US
Azerbaijan’s Deputy Minister of Defense holds series of meetings as part of ADEX 2026 exhibition
President Ilham Aliyev: In the coming years, the Great Return will proceed even faster
President Ilham Aliyev: Today, Azerbaijan has become a very serious geopolitical and security factor
President: Azerbaijan is one of the rare countries that produces, extracts, and exports all types of energy resources
Azerbaijani President: We have never displayed hypocrisy toward any country
Discussions with international partners continue as part of ADEX-2026
President Ilham Aliyev: We play a unifying role to strengthen Islamic solidarity
President of Azerbaijan: Modern ideological work must be conducted
President: We must shape our foreign policy so that no one interferes in our internal affairs

ECONOMY

AZERBAIJANI ECONOMY: WORLD`S SPEEDIEST DEVELOPMENT

23.12.2008 [12:26]
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Azerbaijan`s economy is the world`s most speedy developing economy, Khalid Al-Aboudi, Executive Director of the Islamic Corporation for Development (ICD) of Private Sector, a filial branch of the World Bank, and ex-minister for economy and finance of Saudi Arabia, told in his interview to the “Arab News” newspaper.

Noting that the Islamic Bank is the less harmed by the world finance crisis and continues its investment policy, Mr. Khalid Mohamed Al-Aboudi said the Company he supervises has created the Caspian International Investment Company (CIIC) that started to realize 70-million dollars projects in Azerbaijan.

The Corporation praises the investment opportunities in Azerbaijan with the speediest developing economy in the world. The Corporation, according to him, will realize some projects in Kazakhstan. So far, ICD has realized 1,2-billion dollars projects in 48 member countries, Mr. Khalid Mohamed AL Aboudi said.

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