By  Trend

Azerbaijan managed to invest huge amount of money in infrastructure, in social infrastructure to increase living standards of people because of the proper use of energy resources and their revenues, Azerbaijani President Ilham Aliyev said.

President Aliyev made the remarks at 5th Ministerial Meeting of the Southern Gas Corridor (SGC) Advisory Council at the Heydar Aliyev Center in Baku.

“Successful energy development of Azerbaijan allowed us to present ourselves to the world as a reliable country, reliable partner, country which hundred percent protects foreign investments, all our contracts with energy companies are ratified by parliament and signed as a law,” the president said.

“Therefore, investors are 100 percent sure that even one single word will not be changed in this contract,” he added. “So this creates credibility and also, it allowed us to attract billions and billions of investments to other sectors of total number of investments in Azerbaijan is close to $150 billion and half of it is foreign investment.”

“It allowed us to diversify our economy to implement successful reforms, to create good business climate,” the president said. “According to the latest World Bank Doing Business report Azerbaijan is number 25. So, we made a tremendous success and we are among ten most reformist countries with respect to the business climate and business environment.”

“We managed to invest huge amount of money in infrastructure, in social infrastructure to increase living standards of our people because of the proper use of energy resources and their revenues,” he said. “Therefore, for us this project is of extreme importance.”