Azerbaijan unveils magnitude of China’s foreign direct investment for almost three decades

BAKU: China has invested $930.8 million in direct investments in Azerbaijan from 1995 through 2023, Azerbaijan Export and Investment Promotion Agency (AZPROMO) Executive Director Yusif Abdullayev said during a conference on the promotion of logistics and trade in Azerbaijan, SCO demonstration area, Trend reports. He stated that out of this total, $754.1 million was invested in the oil and gas sector, with an additional $176.7 million directed to the non-oil and gas sector. "Currently, 245 Chinese companies are actively operating in Azerbaijan across sectors including industry, agriculture, transportation, construction, trade, and services," the executive director noted. Abdullayev emphasized that China remains one of Azerbaijan's primary trade partners. "In the period from January through May this year, the trade turnover between the two countries increased by 26 percent compared to the same period last year, reaching $1.3 billion," he added. Source: Trend News Agency