Foreign investments to fixed capital hits $1.9bn in Jan-Aug

By Azernews

By Ayya Lmahamad

Foreign enterprises and organizations directed AZN 3.3 billion ($1.9bn) to the fixed capital in Azerbaijan during the period of January-August 2020, local media reported with reference to the State Statistics Committee.

According to the report, 87.3 percent or AZN 2.9 billion ($1.7bn) of the funds directed to the fixed capital at the expense of foreign countries and international organizations belonged to UK, U.S., Turkey, Japan, Switzerland, Malaysia, Norway, Russian and Iranian investors.

Moreover, 53.3 percent of the total amount of funds of the fixed capital was directed to industry and 21.4 percent to construction during the first eight months of the year.

Some 12.1 percent of the total funds were directed to the transport and storage, 3.5 percent on professional, scientific and technical activities, 1.9 percent on agriculture, forestry and fisheries, 1.8 percent on public administration, defense and social security, 1.4 on education.

Additionally, 1.3 percent of the funds was allocated to information and communication, 0.9 percent on trade and repair of vehicles, 0.4 percent to accommodation and catering of tourists, 0.5 to public health and social services, 0.4 percent to administrative and support services, 0.3 percent to financial and insurance activities, recreation, entertainment and art, and 0.2 percent to other services.