Silk Road Economic Belt creates great opportunities for development of Azerbaijan – Deputy Minister

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The FINANCIAL — The Silk Road Economic Belt will create great opportunities for the further development of Azerbaijan, in particular the industries of agriculture, tourism, mechanical engineering, and the food industry of the country, declared the Deputy Minister of Economy and Industry, Sahil Babayev at the CIS Global Business Forum 2016 in Dubai.

“Baku’s participation in the “Silk Road Economic Belt” is a great potential for investors, as the new railway lines envisaged by the project will simplify the delivery of goods between Azerbaijan and China in both directions,” he said.

“The decline in oil prices opens great opportunities for Azerbaijan in the areas of strengthening the economic diversification and attracting foreign investors to the non-oil sector, especially investors from the UAE and the member states of the Cooperation Council for the Arab States of the Gulf (CCASG),” noted S.Babayev.

Also, it is noted that Azerbaijan took a number of measures to improve its business environment and raise new investments. Last year, Azerbaijan launched more liberal fiscal legislation for small and medium-scale enterprises, and simplified their access to funding.

 

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