Huge part of foreign direct investments in Azerbaijan account for oil & gas sector

The total amount of foreign capital attracted in the Azerbaijani economy in January-September 2012 amounted to $7.6 billion, increasing by 30.6 percent compared to the same period last year, the Central Bank Azerbaijan (CBA) said on Friday.

The total amount of foreign capital in the form of direct investments in the country amounted to $4 billion, where the share of oil and gas sector stood at 78.7 percent. These investments are used to finance work on the territory of Azerbaijan, mainly carried out in oil and gas projects by BP Exploration Ltd (Shah Deniz) and the Azerbaijan International Operating Company (AIOC) (Azeri-Chirag-Guneshli).

CBA noted that the volume of direct investments attracted to the non-oil sector totaled $844.5 million, which is 21.3 percent of the total amount of foreign direct investment in the country.


/Trend/