IDB INVESTMENT CONFERENCE MAKES HEADWAY
The local companies and business projects were presented here with discussions revolving around energy, light and heavy industries, banking, finance, agriculture, transport, communication, information and communication technologies.
Reporting on the last day of the international conference, Minister of Economic Development Heydar Babayev said the event, which gathered over 100 businessmen from IDB member countries, representatives of the government agencies of Azerbaijan, embassies and international organizations and local entrepreneurs, was very successful.
He said investment opportunities of Azerbaijan have been discussed for two days of the event. According to him, the conference once more acknowledged that Azerbaijan has an enormous potential.
IDB representative, Bashir Omar Mohammad Fadallah updated the conference participants on the draft final declaration. He said businessmen from 15 IDB member countries as well as Russia and India got familiar with the economic development of Azerbaijan.
Bashir Omar Mohammad Fadallah said IDB member countries decided to strengthen cooperation and invest in Azerbaijan. Moreover, the preliminary decision was made to create the investment companies in Azerbaijan with the capital of $100 million.
IDB president Ahmad Mohammad Ali described Azerbaijan as the influential nation of the Muslim world. He highlighted the importance of the conference in terms of trade-economic ties among IDB member states.
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Upon completion of the conference, Economic Development Minister Heydar Babayev and IDB president held a press conference.
According to H. Babayev, the agreement on financing the companies’ projects worth 90 million was reached during the two-day conference. Besides, the agreement was sealed on allocation of $85 million to Azerenergy joint-stock company for realization of the hydroelectric station-related project.
Ahmed Mohammad Ali said they got acquainted with Azerbaijan’s economic potential. IDB President said IDB has some plans concerning the improvement of social conditions of the refugees and internally displaced persons who left their lands because of Armenia’s aggression against Azerbaijan. This issue was negotiated during the meeting with Prime Minister of Azerbaijan, chairman of the State Committee for Refugees and IDPS Ali Hasanov.
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