Azernews.Az

By Nigar Abbasova

Azerbaijan will soon host the International Investment Conference to increase the attraction of foreign investors to the country. The conference will be the first and largest event aimed at attracting investments from Arab countries.

The event, scheduled for December 8, will be organized by the Islamic Corporation for the Development of the Private Sector (ICD) and the IDB Group Business Forum in cooperation with Azerbaijan Investment Company (AIC) and Azerbaijan Export and Investment Promotion Foundation (AZPROMO).

A source told Trend that ICD Head Khaled Al-Abudi will participate in the event.

The source mentioned that the participants will get acquainted with the most recent reforms on the improvement of business environment, investment climate in the country, incentives schemes, as well as priority sectors and favorable conditions created for investors in industrial parks.

Moreover, the participants will also consider risks and challenges for investors, as well as measures required to facilitate business doing in the country.

The conference is expected to reinforce the position of Azerbaijan on the world investment map by highlighting profitable business opportunities available in the country. Additionally, the event will also create linkages and business relations between the participants.

The trade turnover with the countries of the Persian Gulf amounted to some $200 million in January-September 2016.

Doing Business 2017 report placed Azerbaijan 65th among 190 countries in the global rankings on the Ease of Doing Business, ranking the country among 29 countries that implemented three or more reforms.

Azerbaijan is currently the leading state among CIS countries in terms of macroeconomic indices, according to CIS-STAT, while the economy of the country grew more than fivefold in the last 20 years.

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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova

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