BAKU, Azerbaijan, October 27. The assets of the
Azerbaijan Business Development Fund total approximately 950
million manat ($558.82 million), the head of the investment
department at the Azerbaijan Business Development Fund, Mikayil
Aliyev, said during the German-Azerbaijani Business Forum in Baku
on Tuesday, Trend's
correspondent reports from the event.
According to him, the fund supports projects in various sectors
of the economy, including the food industry, pharmaceuticals, the
production of construction materials, and green energy.
He noted that cooperation with German companies is already
underway within the framework of a number of projects, including in
the fields of barley malt processing, soft drink production, and
the manufacture of biaxially oriented polypropylene (BOPP) film.
German companies are supplying equipment for these projects.
“The fund pursues three main objectives: supporting economic
growth and diversification, attracting foreign direct investment to
Azerbaijan, and investing in competitive projects aimed at reducing
dependence on imports.
The fund's maximum investment in a single project is $20
million. Typically, the fund acts as a minority shareholder with a
stake of up to 30%, and its participation in projects usually lasts
from five to seven years," Aliyev said.
He also noted that Azerbaijan offers investors various
government incentives and special economic zones. In particular,
Aliyev highlighted the opportunities available in industrial parks,
the Alat Free Economic Zone, and through the investment incentive
mechanism.
