Azerbaijan progresses towards its future in leaps and bounds. Our country has been setting GDP growth rate records for several years on end: the gross product rose by nearly 35% last year and the growth rate exceeded 40% in the first quarter of this year – no other country of the world has such records to boast of. Azerbaijan has been the world’s leader in terms of economic development for three years on end.
What’s the secret of this success?
The secret lies in the current economic reforms and political stability achieved so far. The numerous government programmes aimed at stimulating the private sector and attracting overseas investments should be mentioned. The investment laws are rather liberal in Azerbaijan; the investment climate is favourable and the future is quite predictable. As a result, both local and overseas companies have been investing more and more in the national non-oil sector which accounted for approximately 40% of the total investment last year. The work the government, civil servants and business people are doing builds on this.