Direct investments in non-oil sector increases
By Sara İsrafilbayova
The amount of direct investments in the non-oil economy of Azerbaijan has doubled last year, recording a 23.4 percent of total capital investments.
The foreign capital attracted in the form of direct investments in the Azerbaijani economy in 2016 amounted to $7.32 billion, of which 76.7 percent accounted for the specific gravity of oil and gas sector.
Overall, direct capital investments fell by 2.4 percent as compared to previous year, when the index stood at 7.5 percent.
The capital mainly concentrated on large oil and gas operations in the territory of Azerbaijan, carried out as part of projects by BP Exploration Ltd (Shah Deniz) and Azerbaijan International Operating Company (AIOC) on the Azeri-Chirag-Gunashli field block.
The Central Bank said that the volume of direct investments attracted to non-oil sector amounted to almost 1.71 billion dollars, or 23.4 percent of the total volume of direct investments attracted to the country in 2016. This is almost a doubled sum of investments placed in 2015 in the amount of $860.4 million.
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