Strategy for attracting foreign direct investments in 2021-2025
The country’s strategy of foreign direct investment is stipulated by the "Strategic Road Map for the production of consumer goods at the level of small and medium enterprises in the Republic of Azerbaijan" and the "Strategic Road Map of the prospects of the national economy" approved by the Presidential Decree No. 1138 dated 6 December 2016. It was designed to build the country's international image as an attractive destination for investment as well as to attract foreign direct investments to the country.
This is one of the measures stipulated by the "Cooperation Agreement between the Ministry of Economy of the Republic of Azerbaijan and the International Finance Corporation" signed on 8 May 2019. Developed jointly with the International Finance Corporation, the project will be implemented in 2021-2025.
The strategy aims to develop the country’s production of import-substituting and export-oriented goods and services by attracting advanced technologies and practices through foreign investment, as well as increasing the export potential of the non-oil sector.
The expected results associated with the implementation of the strategy of attracting foreign direct investment are as follows:
- Strengthening of economic diversification;
- Increase of the production of competitive products and services in the non-oil sector;
- Strengthening of the process of attracting foreign direct investment to the country to ensure sustainable economic development.