Consulate General of the Republic of Azerbaijan in Los Angeles :: Overview
Azerbaijan’s economy is one of the most dynamic and rapidly growing in the region. In 2006, the nation’s GDP grew over 25%, and in 2007 the GDP growth exceeded 30% making Azerbaijan the fastest growing economy that year. The Azerbaijani economy also grew some 10% in 2009 and continued 2010 in spite of the global economic crisis. The nation’s healthy economic indices and constantly improving international credit rating is a result of the Government’s responsible fiscal policy and a long-term economic strategy. As a result, In 2009, the World Bank named Azerbaijan the “Top Reformer” in its review of global economy. This dynamism fueled in part by the energy development provides a favorable environment for growth across all sectors of the economy. Through the Ministry of Communications and IT, Azerbaijan has engaged in a special outreach effort to technology companies on the West Coast by holding four U.S.-Azerbaijan ICT Business events in California in cooperation with the Consulate General.
Currently, Azerbaijan is making major investment into wide-ranging infrastructure projects and encourages development of the rapidly growing agriculture, telecommunications and IT, transportation and service sectors throughout the entire country. The well-established tradition of building positive partnerships with foreign investors, simplified tax and licensing regimes, and the Government’s strong emphasis on developing non-oil economy, open wide range of opportunities for investors interested in Azerbaijan. These opportunities can be explored in detail by contacting the Ministry of Economic Development (http://www.economy.gov.az/), as well the Azerbaijan Investment Company (http://www.economy.gov.az/) and the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) (www.azpromo.az).
The staff of the Consulate General is ready to assist you and to provide the necessary support should you be interested in investment projects in Azerbaijan.