Foreign investment down 9%
Foreign investment in Azerbaijan decreased 9% in the period of
January through July, according to official figures.
Foreign companies and international financial institutions invested a total of 1.365 billion manats (1.685 billion) in the country during this period. Britain was the top investor in the national economy as British investments rose 46.5% this year to reach 634 million manats ($782 million), the State Statistics Committee said.
In contrast, U.S. companies invested 18% less, bringing the indicator down to about $740 million. Japanese investors also scaled down investment in the first seven months of 2008, reducing by 20%, to $148 million. Turkey and Norway reduced investment by 20% as well.
Nonetheless, Germany and France increased their investments. German companies quadrupled the figure this year to some $12.3 million, while French businessmen increased their investments by 2.3 times to $16 million. Finally, Russian investments rose 3.9% to nearly $4.7 million.
In addition to that, the World Bank, the Asian Development Bank and the Kuwaiti fund increased their allocations to Azerbaijan, while the European Bank for Reconstruction and Development reduced theirs.
Investments in the Azerbaijani economy are mostly channeled into the energy sector and infrastructure projects.
Foreign companies and international financial institutions invested a total of 1.365 billion manats (1.685 billion) in the country during this period. Britain was the top investor in the national economy as British investments rose 46.5% this year to reach 634 million manats ($782 million), the State Statistics Committee said.
In contrast, U.S. companies invested 18% less, bringing the indicator down to about $740 million. Japanese investors also scaled down investment in the first seven months of 2008, reducing by 20%, to $148 million. Turkey and Norway reduced investment by 20% as well.
Nonetheless, Germany and France increased their investments. German companies quadrupled the figure this year to some $12.3 million, while French businessmen increased their investments by 2.3 times to $16 million. Finally, Russian investments rose 3.9% to nearly $4.7 million.
In addition to that, the World Bank, the Asian Development Bank and the Kuwaiti fund increased their allocations to Azerbaijan, while the European Bank for Reconstruction and Development reduced theirs.
Investments in the Azerbaijani economy are mostly channeled into the energy sector and infrastructure projects.
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