Karavaev: Capital preservation policy in Azerbaijan yields results – AzeriTimes
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Karavaev: Capital preservation policy in Azerbaijan yields results

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Against the background of the liberation of Azerbaijani territories from the Armenian occupation, we can expect an increase in investment in the country.

Alexander Karavaev, a researcher at the Institute of Economics of the Russian Academy of Sciences, told the Russian Bureau of Report.

The expert touched upon the topic of restoring the returned territories: "An essential element is a future, as yet unpublished program for the restoration of returned villages, settlements and agricultural land in parts of the districts around Karabakh. The program will consist of several stages. During the first years, the infrastructure will be restored: water pipelines, electric networks, gas supply systems. Significant volumes of work are envisaged for the restoration of road infrastructure. Plus housing and administrative and commercial construction. The importance of work is enormous, about 50 localities, even if we expect that only a part of the returned territories will be restored due to security issues.

We can predict that this will add at least 1.5% of GDP growth in 2021 and 2022, perhaps even more, given that the number of such settlements increases every day."

In terms of investment, Karavaev also expects growth: "In the first half of 2020, foreign direct investment in Azerbaijan increased by 23.5%, exceeding 2 billion US dollars. To a large extent, the reason is that Azerbaijani investors began to return home – the Central Bank of Azerbaijan recorded a two-fold reduction in Azerbaijani foreign investments. It shows that the policy of preserving capital in the country is producing results."

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Measures will be taken against companies engaged in illegal activities in occupied territories

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Investigations conducted by the Prosecutor General's Office of the Republic of Azerbaijan in the territories occupied by the Armenian armed forces have identified individuals and legal entities engaged in illegal mining in the occupied territories, as well as in the exploitation of gold and other metal ore deposits, sturgeon, and black caviar sales, electricity production, illegal watch sales, and banking activities.

We declare that the application of effective measures within the criminal law against persons engaged in illegal economic and other activities in our occupied territories is monitored regularly by the Prosecutor General's Office of the Republic of Azerbaijan.

In order to prevent such illegal actions, informative videos in French, Spanish, German, Russian, English, and Arabic were prepared in connection with the cases when the economic activity of foreign citizens in the territory of the Republic of Azerbaijan may be considered illegal. Provisions of the criminal law on illegal economic activities were also reflected in the videos.

The Prosecutor General's Office of the Republic of Azerbaijan will take efficient measures under international law against individuals and legal entities engaged in illegal economic and other activities in the territories occupied by the Armenian armed forces of the Republic of Azerbaijan.

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Armenia’s ex-MP eliminated in Karabakh

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As a result of the Azerbaijani Army's counter-offensive operation to liberate the occupied territories, Davit Matevosyan, a former MP of Armenia, was killed.

Report informs, his daughter, Hermine Matevosyan, wrote on the Facebook post.

Matevosyan served as a deputy in 1995-1999. In the 2008 presidential election, he was one of the leaders of Ter-Petrosyan's campaign headquarters. After the dispersal of mass protests, he was sentenced to three years. A year later, he was released from prison under an amnesty.

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Another Armenian drone destroyed

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Another tactical unmanned aerial vehicle belonging to the Armenian armed forces, which attempted to fly in the Aghjabedi region's direction, was destroyed by our units on October 23 at about 12:00.

The press service of the Azerbaijani Defense Ministry told Report.

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