Significant growth in the performance of the construction sector in Azerbaijan is expected in 2021, Acting Director of the Research Institute of Economic Reforms under the Ministry of Economy Arzu Huseynova told Trend on Jan.13.
According to Huseynova, this year large-scale construction work is expected in a large territory of the country.
"The process of moving internally displaced persons to their lands will involve a large amount of work in the construction sector,” she emphasized. “There are enough construction companies in the country that can be attracted to work on these lands after they are cleared from mines and other dangerous items. Azerbaijan is also interested in the active inflow of foreign direct investment and is ready to cooperate in this direction.”
Touching upon the topic of the state of the construction sector last year, the director noted that in 2020 the sector showed a certain stagnation.
"The decline in construction in our country is due to the impact of the coronavirus pandemic and quarantine. The limited labor force, which is a direct consequence of the coronavirus pandemic, has also negatively affected the construction industry. This year, all economic processes and investments will be directed to the restoration of the liberated (from Armenian occupation by Azerbaijan during the 44-day war from late Sept. through early Nov.2020) territories, to the growth of the construction sector," she summed up.
For 11 months of 2020, non-state construction companies completed 87.5 percent of the total volume of construction work in Baku. Some 65.8 percent of the work performed by construction enterprises accounted for construction, reconstruction, and expansion, 6.5 percent for major repairs, and 5.6 percent for current repairs.
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