Azerbaijan sees rise in capital investments in its economy

Some 7.1 billion manat has been invested in the construction sector in Azerbaijan in January - July, increasing by 27.2 percent compared to the same period last year.

The figure was stated in a report by the State Statistics Committee on Tuesday.

Some 59.6 percent of the mastered investments, or 4.2 billion manat were directed to the
execution of construction works, increasing by 26.9 percent compared to January-July 2011.

Some 78.8 percent of the funds allocated in the capital, or 5.6 billion manat fell on domestic

investment, which increased by 34.7 percent for the year.

As a result of the construction work a number of industrial and social facilities has been put into operation. Some 922,000 square meters, secondary schools for 360 students, pre-school facilities, hospitals and clinics, as well as metal structures plant in Baku, Baku Crystal Hall, Heydar Aliyev Center, hotels Qafqaz Baku City Hotel and Rezidences and JW Marriott Absheron, a sports complex in Zira, heavy engineering plant and accurate processing in Sumgait industrial park and so on were commissioned within seven months.

Some 3.046.7 billion manat from 5.933.9 billion manat provided from the state budget to
continue construction work on a number of sites for this year were mastered during January-July.

Some 299,000 new work places were created in the frame of the second part of the state
program on socio-economic development of regions in 2009-2013, 219.9 thousand of which are permanent. In particular, 58.2 thousand new jobs created in the first half of 2012.

Some 70.1 percent of created work places fell on the regions, 87.8 percent of the jobs are created in the private sector.


/Trend/