Foreign investments in Azeri economy rise
Foreign investments in Azerbaijan's economy in 2011 totaled nearly 2.516 billion manats ($3.225 billion), 3.2 percent over 2010, according to official estimates.
84.2 percent of the funds, or around $2.714 billion, were placed by investors from the UK, U.S., Japan, France, Norway, Turkey, the Czech Republic and Korea, the State Statistics Committee said.
The UK retains its position as the biggest foreign investor in Azerbaijan. UK investments accounted for 44.6 percent of the total investments last year.
US investments in the country's economy amounted to 14.4 percent of the overall volume, while Japanese investments – to 9.1 percent, those from France 1.8 percent, Norway 5.1 percent, Czech Republic 4 percent, Turkey 4.1 percent, Korea 1.1 percent, Switzerland 0.3 percent, and Saudi Arabia 0.1 percent. Italian investments made up $688,000.
The share of funds allocated by the World Bank in the total volume of investments was 7.4 percent. The European Bank for Reconstruction and Development (EBRD) allocated 5.2 percent, Asian Development Bank - 2.4 percent, the TACIS program 0.3 percent, Islamic Development Bank 0.1 percent. Kuwaiti Fund for Economic Development allotted $1.182 million.
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