home . news & publications . Investment News . Economic Growth and Expansion in Azerbaijan

Economic Growth and Expansion in Azerbaijan

Azerbaijani Deputy Prime Minister Abid Sharifov said that the Regional Communication Commonwealth (RCC) is expanding cooperation among communication administrations in the field of networking and communication equipment, IT and those governing the radio frequency spectrum.

Sharifov noted this during the 47th joint meeting of the heads of the RCC Administrations Council and 18th Coordination Council of the CIS member states under the RCC.

The deputy prime minister said that the organization contributes to a fruitful cooperation with the International Telecommunication Union and the Universal Postal Union.

The Baku meeting underlined the benefits of this cooperation's expansion for the member states.

"Real GDP in Azerbaijan has increased threefold for the last seven to eight years; in the industrial sector fourfold; in agriculture, by 1.3 times; in the construction sector by 3.1 times; and in transport and ICT, threefold," Sharifov added.

The deputy prime minister also said that around $102 billion has been drawn since 2004 to develop the economy from all sources of funding, and around 49.8 percent were financed from domestic sources. During this period, around $38.1 billion was invested in the oil and gas sector, while more than $60 billion was transferred to the non-oil sector, as well as to develop the financial sector of the economy.

In addition, the population's income increased 5.3 times since 2004, the average salary grew 4.7 times and the minimum salary 10.4 times. The poverty rate declined from 44.7 percent in 2004 to 7.6 percent in 2011. Also, the number of enterprises doubled.

"At present, telecommunications services and information technologies are rapidly developing in Azerbaijan, as well as throughout the world," Sharifov noted.

"Azerbaijan holds leading positions in certain types of communications. Around 65 Internet users and 30 broadband Internet users fall to every 100 people."

He went on to explain that one of the most important achievements is the addition of telephone lines in all areas and the electrification of the entire telephone network. The mobile sector is developing dynamically, with around 110 mobile phones to every 100 people in the country.

Last but not least, Sharifov added that, "the first Azerbaijani telecommunications satellite will be launched in early February 2013. The satellite coverage area will include Europe, Asia, Africa and the countries of the Economic Cooperation Organization. The telecommunications satellite services will enhance cooperation among the ECO member states."

Source: Trend

Back to top

subscribe

events view our upcoming events.

network follow us.



   facebook  linkedin  twitter

 bp
anglo-asian ata-holding
azpetrol statoil
bny_melon azertrans
chevron_logo conocophillips
  ibar exxonmobil
 solar-turbines boeing-logo-website
 
  
 
           
        
   
 
 
         pg
    ekvitasocaraqs            
          ge