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Azerbaijani investors interested in implementing projects in Mangystau region

Azerbaijani investors interested in implementing projects in Mangystau region

The representatives of the Azerbaijani business community show a high interest in implementation of investment projects in Mangystau region. This was noted by the Consul General of the Consulate of the Republic of Azerbaijan Elmar Mammadov during a meeting with Aydin Tumyshev, the Regional Director at KAZAKH INVEST.

The meeting was a continuation of work to improve the investment climate and development of bilateral economic relations between Mangystau region and the Republic of Azerbaijan.

During the meeting, KAZAKH INVEST representative informed the Consul General about the priority development areas in the region. These include logistics, tourism, agriculture and energy.

“Today, Mangystau region is actively developing greenhouse farming, livestock breeding, fish farming and alternative energy sources. In addition, a convenient geographical location, a rich historical heritage and a long beach season make it possible to raise funds in the tourism industry,” - said Aydin Tumyshev, the Regional Director of KAZAKH INVEST in Mangystau region.

In turn, the Azerbaijani side expressed interest in implementing water supply projects in the region. The parties agreed to continue substantive work on the expressed initiatives.

It is worth noting that to date, the KAZAKH INVEST monitoring system in Mangystau region has 16 projects worth more than $ 3.6 billion. Of these, 7 projects for $ 657 million are under implementation, another 7 projects worth more than $ 2.7 billion are being developed by the specialists of the national company.

The total turnover between Mangystau region and the Republic of Azerbaijan for the first 7 months of 2019 amounted to about $ 32 million. Of these, exports amounted to $ 28.1 million, and imports - $ 3.9 million. To date, about 250 enterprises with Azerbaijani capital are registered in the region.

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