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.
