Tourism

Ÿ 2013

w w w. a z p r o m o. a z
IN azerbaijan
Azerbaijan Investing 6 Sector Business and
in Figures in Tourism overview investment
sector of opportunities
Azerbaijan Cultural

2 4 21
and heritage
tourism

Recreation
tourism

Business
tourism

Eco-tourism

Religious
tourism

Sport and
adventure
tourism
 contents

We are Reasons Information Promotion

already here to invest on Azerbaijan Foundation
in Azerbaijan Export & (AZPROMO)
Investment

24 27 28 30
Important notice:
All statistical information
used in this publication is
provided by the State Sta-
tistical Committee of the
Republic of Azerbaijan.

w w w. a z p r o m o. a z
2
Azerbaijan
in figures
l TERRITORY l CLIMATIC ZONES/TYPES
86 600 km2 9 out of existing in the world

l CAPITAL CITY l BORDERING COUNTRIES

Baku Russia, Georgia, Armenia, Turkey, Iran;
Kazakhstan and Turkmenistan

l LANGUAGE
Azerbaijani l NUMBER OF TOURISTS
1 985, 9 thsd. (2012)

l POPULATION
9,356.5 l NUMBER OF BEDS
(as of the beginning of the year 2013) 32834 (2012)

l CURRENCY l NUMBER OF HOTELS

Azerbaijani manat (AZN) 514 (2012)

l GDP l NUMBER OF OVERNIGHT STAYS

69,2 bln. USD (2012) 1 640 863 (2012)

l GDP per capita l NUMBER OF TOURISM COMPANIES

7490.5 USD (2012) 170 (2012)

l FDI (1995-2012) l TIME ZONE

46.8 bln. USD GMT + 04:00

l LABOUR FORCE
4.6 mln. people

w w w. a z p r o m o. a z
Investing in Tourism
of Azerbaijan

National Flag Square,

Baku, Azerbaijan
4
m sector
INVEST IN DEVELOPMENT TODAY, BECOME A PART
OF THE PROSPEROUS TOMORROW!

Azerbaijan, eternally green, eternally seething, The strengthening of the image of Azerbaijan on the
lively, inquisitive and benevolent has stepped international scene as a country with a high tourism
into the XXI century not simply democratic and profile, contributes to the dynamic development of
independent, also politically mature and getting the country in the sphere of culture and tourism. To
stronger economically. This transition simultane- achieve these goals, the Republic has both the nec-
ously opened for the country the door to a new level essary capacity and the personnel capable to realize
of the international relations and financial prosper- all planned projects. Dozens of investment projects,
ity- the world of professional tourism. directed on development of professional service in
The sphere of the fairylike travels and adventures, places, are implemented. Training courses for the
active rest in paradise oases and against a back- personnel are organized. The big modern star hotels
ground of turquoise waves, contemplate and cogni- receive the guests from all over the world.
tive trips, the refined tasting of the Eastern dishes Azerbaijan, as a young “tour-operator”-beginner,
– all this Azerbaijan hospitably offers to the people quickly studies and gets experience. Eight big
of good will and the tourists from many countries international tourist exhibitions have already passed
have already begun to travel here. Azerbaijan has here, and our country, in its turn, has participated in
all the necessary ingredients of a tourist-friendly the most prestigious international tourist forums in
country: hospitable people, rich cultural, historic London (WTM), Berlin (ITB), Moscow (MITT), Istan-
and religious diversity, beautiful natural scenery, bul (MTE), and many others. Azerbaijan cooperates
delicious cuisine and exotic foods, and many more. already with 28 countries in the sector of tourism.
The number of foreign tourists increases rapidly. This number is increasing every year.
While it was 435,500 in 2002, the number of tour- Azerbaijan offers great potential for international
ists visited Azerbaijan in 2012 made up 1 985, 9 investors to participate in the development of this
thsd. persons. fascinating area.

w w w. a z p r o m o. a z 5
Azerbaijan is one of the fastest growing economies
worldwide. Following the sharp decline in early
90’s of the last century, its economy has under-
gone the process of reanimation and recovery and
entered a new phase of sustainable growth. In the
first decade of the current century Azerbaijan’s
real economy grew threefold. By implementing
vital economic and regulatory reforms Azerbaijan
significantly improved its economic performance
and is considered nowadays increasingly competi-
tive worldwide. As such, the World Economic
Forum places azerbaijan 39th in the world in its
Global Competitiveness Report 2013-2014.
According to this index, Azerbaijan is the most
competitive economy in CIS.

SECTOR
The Heydar Aliyev Center,
Baku, Azerbaijan

6
OVERVIEW
 According to the report made by the one of the fastest developing segments
World Economic Forum Azerbaijan ranks of economy with immense potential and
78th among 140 countries on the Travel opportunities. It is, moreover, assigned
& Tourism Competitiveness Index. Com- an important role in the enunciated
pared to 2011, Azerbaijan moved up from aspirations of the government towards
83rd place to 78th. The reports says that diversified economy. Azerbaijan pursues
Azerbaijan ranks 46th among 140 coun- a result-oriented policy on the develop-
tries on T&T Regulatory Framework, 87th ment and promotion of tourism. The
on business and environment infrastruc- dedicated Ministry of Culture and Tourism
ture and 96th on T&T human, cultural and is tasked to implement this policy. In
natural resources. Moreover, the World addition to that, a sector-specific body
Tourism Organization places Azerbaijan of law regulating the state policy in the
2nd in the world on the growth of tourist sector, the tourism–related activities, and
inflow in percentage ratio. As a result, in the rational use of tourism resources of
2012 profits earned by tourism enterpris- the country has been developed over the
es has tripled since 2006. Such perfor- last decade. These elements are linchpin
mance underpins the latest developments of positive performance by the tourism
in country’s tourism industry. It became industry in recent years.

NUMBER OF FOREIGN CITIZENS ARRIVED TO AZERBAIJAN

(THSD. PERSONS)
1 830,4

1 962,9

2 239,2

2 484,1

6-21 2009

w w w. a z p r o m o. a z
2010 2011 2012

7
NUMBER OF FOREIGN TOURISTS (THSD. PERSONS)

1 005,4

1 279,8

1 561,9

1 985,9
2009 2010 2011 2012

Foreign tourists
according to travel
objectives (2012) other forms of tourism

leisure, recreation

visiting relatives

30%
business

8
 Top 10
FOREIGN NATIONALS ARRIVED
TO Azerbaijan in 2012

Rank Country N OF FOREIGN CITIZENS (THSD. PERSONS)

1 Russi a 8 7 6,0
2 G eo rgi a 7 6 3,2
3 I ra n 2 8 3,7
4 Tur key 2 9 5,5
5 U kra i ne 4 2,4
6 U ni t ed K i ng d om 2 9,1
7 Ka za khst a n 2 5,3
8 USA 1 3,7
9 G er m a ny 1 6,4
10 O t her c ount r i es 1 3 8,8

Number of hotels
and hotel-type enterprises
452

499

508

514

2009 2010 2011 2012

w w w. a z p r o m o. a z 9
Number of beds in hotels
and hotel-type enterprises

30 571

30 793

31 979

32 834
2009 2010 2011 2012

Azerbaijan is not only an attractive by 50%. This tendency owes to increased facilities in Azerbaijan increased from 93
destination for international business, popularity and visibility of the country in 2001 up to 514 in 2012. In consequence
but is also emerging as a new tourism in different parts of the world, active of introduction of certification of hotels,
destination. Number of foreign citizens foreign policy and favourable economic their condition and the quality of services
arrived to the country grew by 96.8% conditions. Moreover, Azerbaijan is one improved strikingly.
in the last 6 years within 2006-2012, of the most secure and safest countries in
while number of foreign tourists visiting the region. No less important is the active The year of 2011 was designated as the
Azerbaijan increased by 3 times in the marketing and promotion campaign of “Year of Tourism” in Azerbaijan.
same time span. Still, most of the visitors Azerbaijan’s tourism potential put on a
come from the bordering states (Rus- wide scale abroad. About 50 hotel construction projects
sia, Georgia, Turkey, Iran, Kazakhstan, This tendency is indispensable to the were ongoing in 2012. It is no wonder
and Turkmenistan). But for all that, the development of tourism infrastructure. that world-famous hotel chains are
interest of visitors from other countries Increased number of visitors stimulates entering the market. Six new hotels in
and regions is rapidly growing. For direct development of accommodation Baku are the leaders in the global hotel
instance, a number of EU citizens arrived industry and related services. The number industry (Hilton, Jumeirah, Kempinski,
to Azerbaijan in the last 4 years increased of hotels and hotel-type accommodation Four Seasons, Marriott, and Fairmont).

10
Number of overnight stays

1 315 135

1 358 286

1 504 312

1 640 863
2009 2010 2011 2012

Value of tourism related services

rendered to foreign citizens ($)

2008 2009 2010 2011 2012

$ 190 247 352 805 620 652 1 287 331 2 433 338

w w w. a z p r o m o. a z 11
CULTURAL AND HERITAGE TOURISM

Azerbaijan is a country of rich cultural and historic of Azerbaijani carpet weaving, the art of Azerbaijani
heritage. Over thousands of years it cradled high ashiqs, Novruz and Azerbaijani mugham are among
culture and was in the thick of major historic events. the elements of the intangible cultural heritage of
Many caravan routs including the Great Silk Way run humanity, the list of which is held by UNESCO. There
through Azerbaijan. They linked ancient civilizations are 226 museums in the country itself, which offer
like Sumer, Assyria, Greece, Rome, Iran, Turkey, India, their visitors a possibility to plunge into the world of
China and other. Most of those civilizations left their history, culture and art of the Azerbaijani people.
mark on the history and culture of Azerbaijan. At present, the day-to-day life in Azerbaijan is also
Today, more than 6 thousand historic and cultural rich of many cultural events both of national and
monuments are scattered over the country, 65 of of international importance. Exhibitions, literary
which belong to the monuments of universal impor- evenings, theater festivals are of regular occurrence.
tance. Walled City of Baku with the Shirvanshah’s Azerbaijan hosts each year annual international music
Palace and Maiden Tower, as well as Gobustan Rock festivals like Gabala International Music Festival, In-
Art Cultural Landscape are included in the World ternational Rostropovich Festival, International Vocal-
Heritage List by UNESCO. ists Contest, Baku Jazz Festival, International Mugham
Currently, Azerbaijan is proposing a number of inter- Festival that attract world-famous music figures and
national historical and cultural routes, which are now connoisseurs. These festivals are justifiably ranked
prepared for international certification in collabora- among authoritative international cultural events of a
tion with European cultural route institutions. These year. In 2012, the city of Baku hosted the “Eurovision”
include the Wine Tour, Great Silk Way, Alexander international song contest following its success in the
Dumas in Caucasus, reflecting the variety of tastes last year’s round. The number of guests who visited
and preferences. Azerbaijan during the Eurovision - 2012 song contest,
There is a tradition of announcement of cultural and including contestants and delegation, is in the range
art capitals of Azerbaijan in various areas for each of 6000 to 7000 people. In addition 103,000 people
year. For instance, in year 2012 Masalli is announced had crossed the border of Azerbaijan during those 15
the “Capital of folklore”, Guba the “Capital of Crafts” days.
and Gedabek the “Capital of Legends”. Also Baku was Today, Azerbaijan is known as a cultural center of
announced the Capital of Islamic Culture for year 2009 the world. Recent international events such as World
by OIC. Forums on Intercultural and Inter-civil Dialogues
The people of Azerbaijan are among the oldest na- are striking examples of this fact. The number
tions in the world with the rich culture, art and music. of tourists visiting Azerbaijan for the purpose of
It is no coincidence that the richest museums in the acquaintance with its national history and culture,
world possess numerous pieces of Azerbaijani mate- as well as to participate in various cultural events is
rial and spiritual culture. Moreover, the traditional art increasing fast.

12
 Old City,
Baku, Azerbaijan

w w w. a z p r o m o. a z 13
Duzdagh Cave, Physiotherapy Centre,
Nakhchivan, Azerbaijan

14
RECREATIONAL TOURISM

Being rich of natural resources Azerbaijan found lan, the place of origin of this crude oil, is a famous
its niche in the sphere of medical tourism. Along balneotherapeutic health resort well-known for
with conventional healthcare, alternative methods its oil baths. The first specialised resort complex
of illness treatment and wellness promotion (e.g. was established here in 1926. The production of
thermal therapy, balneology etc) with the use of Naftalan ointment dates even earlier to the end of
natural materials like crude oil, thermal waters, 19th century, when a German engineer established
salt mines, salubrious mud became popular not a small ointment production enterprise here.
only among the local population, but also foreign Azerbaijan is also known for its salt mines used
citizens visiting the country. This type of recrea- for asthma therapy. The most popular one is called
tional tourism shows increased potential for further “Duzdagh Cave” (salty mountain cave) located
development. in Nakhchivan. There are over-and underground
Azerbaijan is a country rich of hot and mineral treatment premises located 300 meters below sea
springs’ birthplaces, thermal sulphur-hydrogen wa- level. The Cave is rich with sodium chloride ions
ter sources and all types of mud volcanoes that are which are useful for treatment of bronchial asthma,
used for medical purposes. There are around 800 hay fever, bronchitis, rhinitis and other respiratory
mud volcanoes existing in the world, 300 of which organs diseases.
reside in Azerbaijan. The mud is used for treatment Becoming a popular place for recreational tourism,
of radiculitis, skin, cardiovascular, gynecological, Azerbaijan attracts more tourists. It is worth to
urological diseases, and gastrointestinal distur- mention that the number of tourists coming for
bances. It is also widely used in the cosmetology. medical treatment has increased in last ten years
Another exceptional medical product of Azerbaijan and amounted 42 997 tourists in 2012. This shows
is its well-known healing “Naftalan” oil which is the great potential for further development of
considered a treatment for many diseases. Nafta- recreational tourism in Azerbaijan.

w w w. a z p r o m o. a z 15
Batabat Lake, shabuz State Reserve,
Nakhchivan, Azerbaijan

16
BUSINESS TOURISM
Today, Azerbaijan is a dynamically developing Annual Meeting of the Black Sea Trade and Develop-
country with favourable business climate. It is a ment Bank organised by local and foreign public
place, where many important international projects and private institutions, as well as international
are implemented. Azerbaijan hosts many industrial organisations. Based on its successful experience
exhibitions and conferences covering such eco- Azerbaijan will host the Annual Meeting of the
nomic sectors like oil and gas, agriculture and food Asian Development Bank in 2015 and the Annual
processing, ICT, construction and others. Meeting of the European Bank for Reconstruction
With the development of economy and increasing and Development in 2017. As result, the number
business contacts with abroad, the importance of of convention facilities and related infrastructure
business tourism in Azerbaijan cannot be underval- increased rapidly. Modern infrastructure for busi-
ued. Conferences, meetings, exhibitions and fairs, ness tourism such as conference halls and business-
corporate events and individual business travels ac- centres is in place. Development of business tourism
count for a growing share of total inbound tourism made a considerable contribution to the growth of
into Azerbaijan. Almost 30% of tourists visiting the leisure economy as well.
country are business tourists. As the business tourism has a direct link with busi-
Moreover, Azerbaijan became a famous location ness activities and stimulates trade and investment,
of major international events such as the World its big portion in the total tourism sector indicates
Economic Forum, Annual Meeting of the Islamic again the favourable business climate established in
Development Bank, the Crans Montana Forum, Azerbaijan.

ECO-TOURISM
The nature of Azerbaijan is characterised 66% of all plant species grown in the Caucasus. Over
by its richness. The country has a unique 15,000 fauna types exist in Azerbaijan.
climate:
l The country established 8 national parks, 11
l Nine climatic zones out of eleven existing in the reserves, 12 state wildlife sanctuaries covering the
world present here. Azerbaijan is a country of cli- total area of 890 thousand hectares to insure the
matic contrasts: subtropics, deserts, orhylile forests, protection of available ecologic systems.
alpine meadows and many other nature zones are
represented there. It translates into the wide variety Rich nature of Azerbaijan opens wide oppor-
of flora and fauna. tunities for ecotourism. While it is not that
popular type of tourism yet, it has enormous
l Over 370 plant sorts or around 4,500 plant spe- potential for development and opens up wide
cies are spread all over the country. It accounts for opportunities for investments.

w w w. a z p r o m o. a z 17
Azerbaijan is among the most
religiously tolerant countries
in the world. It is confirmed by
all religious, public and state
figures.
The peaceful coexistence of different religious con-
fessions in Azerbaijan “has been possible thanks to
a spirit of tolerance and mutual acceptance, which
cannot fail to be a reason for pride for the country”
The Pope John Paul II said.

Along with the majority of population professing

Islam, representatives of Christian and Jewish com-
munities enjoy the same status and level of religious
freedom.

l There are 1834 mosques, 12 churches and 6

synagogues functioning in Azerbaijan.

l The culture and history of Azerbaijan embrace

the elements of many civilizations, religions and
specific features of Caucasus. Islam, Christianity,
Judaism and Zoroastrianism are present here from
very ancient times and left their impact on the cul-
tural heritage throughout the history of this place.

l Ancient Muslim Mosques, unique ancient

Christian Albanian temples, Catholic and Orthodox
Churches, Jewish Synagogues, the Gothic “Kirche”
built in 1899 for Baku’s German Lutherans, “At-
eshgah” – an eternal fire place that used to be fire
worshippers Temple and many other historical and
religious monuments fascinate foreign visitors.

l Azerbaijan is emerging destination for religious

tourists. In 2012 13225 foreign citizens visited the
country for religious purposes. Their number keeps
growing.

18
 RELIGIOUS TOURISM

Night view from Old City to Flame Towers,

Baku, Azerbaijan

w w w. a z p r o m o. a z 19
Azerbaijan is the country that has old traditions in
numerous sports. Our athletes are consecutively awarded
with medals in Olympic Games, different countries’,
European and Asian championships. National Olympic
Committee, 24 Olympic and 45 non-Olympic sports
federations operate in Azerbaijan. Moreover, government
strongly supports development and promotion of sport in
the country.

Shahdag Winter-Summer Tourism Complex,

Gusar, Azerbaijan

20
 SPORT AND ADVENTURE TOURISM

Sport perfectly combines both public

and private investments.

l 36 modern Olympic Games l Establishment of necessary in-

facilities have been built in Azer- frastructure created opportunities
baijan in recent years,. for holding various national and
international sport events. World
l 9,954 sporting installations and and European boxing, wrestling,
complexes operate throughout the rhythmic gymnastics, fencing and
country. other sports Championships are
held in the country.
l Shahdag Winter-Summer Tour-
ism Complex in Gusar was put into l In 2012, FIFA U-17 Women’s
use in December 2012. The com- World Cup was held in Azerbaijan
plex includes trade centers, restau- as well.
rant, café, game hall, equestrian
sport, skiing and other services. l Azerbaijan has been nominated
The project was launched in 2006. to host European Football Champi-
The Shahdagh Complex Directorate onship in 2020.
was established to run the project.
Construction of the complex began l Baku will host the first European
in September 2009. The complex Games in 2015, FIDE World Cup
is located 32 km from the regional 2015, World Chess Olympiad 2016
centre - Gusar. Its total area is and Islamic Solidarity Games 2017.
2,058 hectares. The construc-
tion area is situated in Shahdagh In light of this, sport and
National Park. The complex is at adventure tourism is one of the
1,300-2,351 m and its main part priority directions of overall
at 1,640 m above sea level. Unlike tourism development. All
from existing systems of this necessary conditions, including
type in the world, it will operate governmental support have
throughout the year. been provided for this.

w w w. a z p r o m o. a z 21
BUSINESS / 22
INVESTMENT
OPPORTUNITIES
 Accommodation

Construction
of 3-4 star hotels
Construction of
tourism complexes

Adventure
tourism and
recreation

Development of
infrastructure for
recreation zones
Development
of adventure
facilities

Tourism
services

Travel agencies
Rent a car
Hotel booking
Pick-up service

Ancillary
services

Food and beverages

National souvenirs,
gifts, copper plates
and others.
Shopping
Entertainment
(cinemas, muse-
ums, entertainment
Boulevard centres and others)
Baku, Azerbaijan Events and
conferences

w w w. a z p r o m o. a z 23
®
 ®

WE ARE
25 ALREADY HERE
w w w. a z p r o m o. a z
REASONS TO
INVEST IN
AZERBAIJAN

Funicular,
Baku, Azerbaijan
The Republic of Azerbaijan is the leading FDI destination in the
region. In course of last seven years the GDP has tripled; the
country sustained macroeconomic stability and effected far-
reaching economic and regulatory reforms ensuring sustain-
ability and attractiveness of domestic investment environment.
Almost $120 billion was invested in Azerbaijani economy over
the last 16 years both by local and international investors.
Azerbaijan made gradual transformation from planned econ-
omy into full-fledged market economy based on the developed
and active private sector. Nowadays, the private sector produc-
es 82.5% of the GDP. There are a few factors that turned Azerbai-
jan into the leading FDI destination and provide sound justifi-
cation for doing business here.

27
Political and economic stability FDI friendly laws

Firm political and macroeconomic stability is one of the deter- Azerbaijani legislation is evolving in accordance with the welcoming
minants of favourable business and investment climate. Safety, policy of the Government for foreign businesses. A revolutionary legal
government and policy stability are considered the most critical reform was carried out in the last decade resulting in introduction of
factors by international businesses present in Azerbaijan. This completely new codes, laws and regulations improving business en-
fact is confirmed by the Global Competitiveness Report 2012- vironment in the country. As a result of regulatory reforms Azerbaijan
2013 of the World Economic Forum. was named top-reformer of business regulations in the world in the
Azerbaijan is one the leading economies globally in terms World Bank Doing Business 2009 Report. Moreover, there is a solid
of economic growth indicators. A record GDP growth was legislative framework for protection of foreign investors established
observed in 2006 accounting for 34.5%. Even in the period of by the Law on protection of foreign investments and other legal acts
global financial turmoil Azerbaijan managed to keep the high of similar nature. Today, Azerbaijan is placed among the top econo-
pace of development and increased its non-oil GDP during last mies in the world narrowing the distance to best performance the
10 years on average by 10.6%. It is known that the stability most since 2005 according to the recent Doing Business Report.
of the macroeconomic environment is important for business Foreign investments are guaranteed against adverse changes in the
and, therefore is important for the overall competitiveness of a legislation, nationalisation and requisition, along with guarantees of
country. compensation of damages and of repatriation of profits.

w w w. a z p r o m o. a z
Azerbaijan is a party to 46 bilateral treaties on mutual protection of Favourable tax regime
investment and a number of multilateral conventions like the UN
Convention on the Recognition and Enforcement of Foreign Arbitrate Business engaged in tourism sector is subject to
Awards (29.12.1958) and Washington Convention on the Settlement statutory tax regime, which is still competitive
of Investment Disputes between States and Nationals of other States enough. Corporate profit tax was reduced in 2010
(18.03.1965). The country has signed over 40 bilateral treaties on the from 22% to 20%, while VAT is levied at the rate of
avoidance of double taxation. 18%. In order to ease tax burden for small size busi-
nesses the country introduced simplified tax regime,
whereby taxpayers with total revenue not exceed-
ing 120,000 Azerbaijani manats for the previous 12
months period are charged at the rate of 4% (the
taxpayers operating in Baku) and 2% (the taxpay-
ers operating in other regions of Azerbaijan) on the
gross revenue. In that case taxpayers of simplified
tax are exempt from VAT, profit and property taxes.
Abundant resources and favourable location
Professional labour force
One of the major resources of Azerbaijan is its natural diversity. Despite
relatively small size, Azerbaijani territory has 9 climatic zones out of Azerbaijan has an extremely high literacy rate of
11 existing in the world ranging from humid subtropical climate to 99.6%. About 6% of labour force is employed in
semi-arctic due to its complex terrain and geography. This creates unique tourism.
opportunities in tourism. Solid research and development base reinforces the
In addition to natural resources, Azerbaijan benefits strongly from its development of these sectors. A large R&D center, the
favourable location on the crossroads of Eurasia serving as the natural National Academy of Sciences with its 28 research in-
bridge between Europe and Asia. The country is the logistics hub for stitutes ensures the scientific component of economic
the Caspian region with the best transport infrastructure in the South development. In order to prepare professionals that
Caucasus. will serve tourism sector Azerbaijan Tourism Institute
Azerbaijan operates 6 international airports with direct flights to major (ATI) was established in 2006. The institute provides
European as well as Asian cities, and the biggest port on the Caspian specialised courses on 11 tourism-related professions.
Sea and has over 29,000 km of hard-surface roads and over 2,000 km of Besides that, several VAT schools preparing profession-
operational railroads. als for tourism industry are operating in Azerbaijan.

28
Government support and access to finance ment policy of Azerbaijani government. All the companies regis-
tered in Azerbaijan, even with 100% of foreign participation, may
Declaring 2011 the Year of Tourism in Azerbaijan shows that, benefit from numerous subsidies, discounts and other privileges
tourism sector is a priority for the country and an area in which provided by the state.
investments increase and has full support of the Azerbaijani Besides this, the Government established a strong institutional
government. A number of measures are being implemented mechanism aimed at sustaining economic growth and stimulation
aimed at the development of tourism in Azerbaijan. A new “State of production and development in non-oil sectors of economy.
Program on the development of tourism in Azerbaijan Republic in One part of this mechanism is Azerbaijan Export & Investment
the years of 2010-2014” was adopted recently (President’s Decree Promotion Foundation (AZPROMO) – a joint Public Private Initia-
dated 06.04.2010). The program aims at establishment of tourism tive, established by the Ministry of Economic Development of
infrastructure within high international requirements; establish- Azerbaijan. For more information on AZPROMO please see the
ment of investment and business climate via attracting domestic next chapter below. In addition, there are two other major com-
and foreign investments; increase of the country’s tourism ponents of the mechanism, in particular Azerbaijan Investment
competitiveness in world’s tourism market. The program envisages Company and National Fund for Entrepreneurship Support.
implementation of wide range of measures for the development Azerbaijan State Investment Company (ASIC) is the state owned
of tourism. In the framework of the program, the Ministry of equity fund, which was established by the Decree of the President
Culture and Tourism intends to represent the tourism market as of the Republic of Azerbaijan on 30 March 2006. The main purpose
a competitive environment. A number of activities is planned to of ASIC is to support the development of the non-oil sector of the
implement for the development of domestic tourism. economy via termed equity injection along with local and foreign
The program is implemented in parallel with the “State Program co-investors into the greenfield and brownfield projects on the
of socio-economic development of the region of Azerbaijan Re- territory of Azerbaijan.
public in 2009-2013”. The overall goal of the Program is to achieve National Fund for Entrepreneurship Support (NFES) is established
acceleration of development of the non-oil sector, diversification by the government. The objective of the Fund is support to the
of the economy, balanced regional and sustainable socio-econom- development of entrepreneurship, especially small and medium
ic development, as well as, to ensure decrease of unemployment entrepreneurship in Azerbaijan and increase of working capacity
and poverty. This program considers implementation of the range of population and provision of financial support. The fund provides
of measures with the special focus on tourism development in the concessionary credits to entrepreneurs in all regions of Azerbaijan
regions, such as upgrading tourism infrastructure, introducing (loan portfolio 218 mln. Azerbaijani manats in 2012). The main
advanced methods and standards, introducing reforms, improving sectors that have been invested and developed by the fund are
business climate, etc. production and processing of agricultural and industrial products,
Stimulation of business is one of the main components of invest- tourism, services and infrastructure development.

w w w. a z p r o m o. a z 29
THE AZERBAIJAN
EXPORT & INVESTMEN
PROMOTION FOUNDAT
(AZPROMO) –
your partner in discovering business opportunities in Azerbaijan.

Night view of Baku,

Baku, Azerbaijan

30
 Our mission:
To sustain economic growth by maximizing the flow of
non-oil extraction FDI and the development of export oriented sectors.

NT
Azerbaijan Export and Investment Promotion ested in investigating and utilizing invest-
Foundation (AZPROMO) is a joint public- ment opportunities in Azerbaijan.

DATION
private-initiative, established by the Ministry
of Economic Development of Azerbaijan AZPROMO is a devoted partner for companies
in 2003 with the aim to contribute to the established in Azerbaijan looking to enter for-
economic development through attracting eign markets. Our knowledge of foreign mar-
foreign investments in the nonoil sectors of kets and applicable trade regulations along
economy and stimulating expansion of coun- with a wide network of foreign representa-
try’s exports of non-oil goods to the overseas tions and partners offer good opportunity for
markets. companies to expand their export capacities.

AZPROMO is a unique body in Azerbaijan that We encourage you to discover opportunities

operates as a “one-stop-shop” for assisting of doing business in and with Azerbaijan
and advising foreign-based companies inter- through our dynamic organization!

31
 OUR
l Country promotion
l Event management
l Investment generation and
services

ACTIVITIES
l Market intelligence and
export services
l Matchmaking and linkages
l Policy advocacy
l Cooperation with interna-
tional trade and investment

32
services promotion agencies

Information and transportation) Aftercare

supply l Site visits services
l Meetings with lo-
l Handling invest- cal authorities and l Investment expan-
ment inquiries private institutions sion/re-investment
l Sectoral invest- plans
ment opportunities l Social events for
l Investment pro- Support in investors (network-
jects getting ing, relationship
l Legal and busi- established building)
ness framework for l Individual trou-
FDI l Business start-up bleshooting and as-
l Identification of sistance day-to-day
Our

local suppliers and operational issues

l Information on
Logistics commercial service
providers changes in business
support environment
l Project partner
search and contact l Identification of
l Fact-finding mis- local suppliers
sions l Licenses and
l to Azerbaijan (visa permits
facilitation, accom- l Liaising with regu-
modation, booking lators
This publication is prepared by:
Azerbaijan Export & Investment Promotion Foundation

32 Neftchilar ave., Baku Business Center, Baku, Azerbaijan, AZ 1000

Tel.: (+99412) 598 01 47/48
Fax: (+99412) 598 01 52
E-mail: office@azpromo.az

designed by farkhad lachinov • www.facebook.com/farkhadlachinov

www.azpromo.az

AZPROMO established by:

Ministry of Economy and Industry of the Republic of Azerbaijan

40, U.Hajibayov Str., “The Government House”, Baku, Azerbaijan, AZ 1000

Tel.: (+99412) 493 88 67
Fax: (+99412) 492 58 95
E-mail: office@economy.gov.az
www.economy.gov.az