AZERBAIJAN– Strategic Location in Global Competition

Azerbaijan is located on south-eastern border of the European continent and serves as the natural bridge between Europe and Central Asia as well as it is the most convenient route from the north-east of Europe to the Middle East. The country is the logistics hub for the Caspian region. Excellent infrastructure of Baku (including largest regional sea and air terminal) is the best choice for any business entering the markets of the Caspian Sea region.

Azerbaijan led the world as the top reformer in World Bank's "Doing Business 2009" survey, with improvements on seven out of 10 indicators of regulatory reform.

Azerbaijan pursued a successful economic stabilization program, with annual growth exceeding 10% since 2000. In 2009 Azerbaijan's gross domestic product increased by 9.3%, with growth in 2010 estimated at 9.0%.

One of the fastest growing economy

Azerbaijan pursued a successful economic stabilization program, with annual growth exceeding 10% since 2000. In 2009 Azerbaijan's gross domestic product increased by 9.3%, with growth in 2010 estimated at 9.0%.

Competitive cost of production

Azerbaijan has long lasting industrial and trade traditions. The industrial revolution has taken place here in the late XIX century due to expanding and advanced oil production and processing sector. Further industrial development led to growing R&D base. A large R&D center, Academy of Sciences with circa 7,000 research studies, exists in Azerbaijan in parallel with a number of universities and colleges.

The country is rich in engineering skills yet the wages are still very competitive. Azerbaijani government’s policies in respect of utilities tariffs are manufacturer friendly.

Tourism

Azerbaijan is aiming at promoting itself as a new tourist destination as opposed to traditional "tourist" countries. It just recently re-entered the maps of global tour operators. Though a comparatively new this business in Azerbaijan proved to be particularly successful.

This is mainly due to substantial natural potential of Azerbaijan in respect of tourism development. The natural attractions include: rare climatic and terrain diversity, mountains and warm sea, medicinal hot springs, mud volcanoes and natural gas flames areas. The history of Azerbaijan and the monuments of few civilizations and religions add up to the above. The oldest Early Christian church, the only operating Fire-worshippers Temple in the world, medieval castles scattered all over the country, Old City of Baku and Maiden Tower are located here. Baku has the best developed infrastructure in the region with modern hotels, resorts, international and traditional cuisine, convenient air links to Europe and Asia etc.

Financial sector

The Financial Sector is one of the most dynamic and investment-attractive segments of the economy and hold a key position within the rapid development process in the country. This sector has a great potential, and with the recent application of modern technologies, it already offers high quality services meeting international standards.

FDI (Foreign Direct Investment) friendly laws and regulations

Azerbaijani legislation is evolving in accordance with the strategic goal of the Government which implements the "welcoming policy" for foreign businesses. Foreign investments are protected by certain guarantees provided by the government and legislation

Foreign investment in Azerbaijan is regulated by a number of international treaties and agreements involving Azerbaijan and by domestic legal acts, including the Law on the Protection of Foreign Investment, dated January 15, 1992 (the Foreign Investment Law); the Law on Investment Activity, dated January 13, 1995 (the Investment Activity Law); and the Privatization Law and the Second Privatization Program, as well as laws regulating specific sectors of the Azerbaijani economy.

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