CASPIAN INTERNATIONAL INVESTMENT COMPANY’S FIRST CONFERENCE HELD IN BAKU
The first investment conference of the Caspian International Investment Company (CIIC) was held in Baku on Friday. The event was organized by the Islamic Corporation for the Development of the Private Sector and Azerbaijan Investment Company (AIC).
Delivering a speech at the event Azerbaijan’s Economic Development Minister Heydar Babayev briefed on the economic successes achieved in the country. He said Azerbaijan’s economy grew by 96%, and poverty level in the country fell to 16% from 49% over the past four years. Mr. Babayev stressed more than 600 thousands workplaces had been opened in Azerbaijan and the country’s state budget had increased ten-fold.
This year Azerbaijan’s GDP growth made up 14% and the country maintained its leadership in the world, as previous years.
The Minister also told of attractive investment climate, as well as reforms carried out to develop non-oil sector and entrepreneurship in Azerbaijan.
The Minister stressed that due to the assistance of the Islamic Development Bank, Islamic countries’ businessmen had expanded their activities in Azerbaijan.
Anar Akhundov, Executive Director of the Azerbaijan Investment Company notified the purpose of the Caspian International Investment Company was to attract investment in Azerbaijan’s non-oil sector.
Togrul Kocarli, CIIC Executive Director said his organization would play great role for the development of Azerbaijan’s non-oil sector.
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