During a governmental meeting held by Azerbaijan President Ilham Aliyev on Jan. 10, he laid out a set of priorities for the year which included attracting investments to non-oil sectors of the country's economy.
He stated that with the establishment of the industrial and agricultural sectors through programs that would facilitate growth in these areas he hopes to attract international investments away from the oil and gas sectors. He recognized that oil and gas are obvious choices for investors to make.
He did note that with crisis hitting much of the region, this allows Azerbaijan to stand out as a viable option.
"That's why it's much easier to attract investments to stable countries with socio-political stability and economic growth," Aliyev said. "Lack of information plays its part, of course. However, presentations, business forums, spreading of information about Azerbaijan among the world public and business structures have already turned Azerbaijan into a very attractive country for investors."
The importance of the banking sector is realized in efforts to develop other areas of the economy outside of the oil and natural gas realms.