Abdullayev: Over $350B invested in Azerbaijan in 20 years

The total volume of investments in Azerbaijan's economy over the past 20 years has exceeded $350 billion, Yusif Abdullayev, Executive Director of the Azerbaijan Export and Investment Promotion Agency (AZPROMO), stated at a business panel, Report informs.

Abdullayev emphasized that more than half of this amount came from foreign private capital: "In the early 1990s, the oil sector was the main driving force of Azerbaijan's economy. From the early 2000s, large-scale infrastructure projects began to be implemented. One of the priority directions was the construction of gas pipelines, which gave a strong impetus to the development of both the oil and gas industries."

He added that the development of the non-oil sector remains one of the state's main tasks.