Posted by New steel production complex will give a fillip to development of new area in country’s industry, said Minister of Industry and Energy Natig Aliyev, APA-Economics reports.
To him, Azerbaijan already has a base for development of steel production. Thus, the country has experience in steel melting field and this will bolster the development of steel production: ‘The order issued by the head of state on establishment of steel production complex in Azerbaijan opens new era in the country. Currently, hundreds of small and medium enterprises operate in industrial sector of the country. However, the number of large and strategic facilities is not high. Over the past years Azerbaijan’s economy was based on oil-gas industry, but at present time, significant works are underway in the country in direction of development of non-oil sector’.
Aliyev also noted that development of non-oil sector is not easy matter and it needs involvement of huge investments: ‘At present, amount of local investments in this sphere has exceeded the amount of foreign investments. However, economy of Azerbaijan is always open for foreign investors’.
