Azerbaijan included in list of 10 priority foreign direct investment

Azerbaijan enters 2024 with significant investment momentum, ranking seventh on the list of top 10 foreign direct investment (FDI) priority destinations for 2024, Azernews reports.

According to the annual FDI Standouts Watchlist study, the country's robust macroeconomic performance has played a key role in making Azerbaijan one of the top FDI destinations globally.

The study, conducted by FDI, assesses the macroeconomic performance and FDI trajectories of the world's top 50 FDI destinations. The study uses data from the International Monetary Fund (IMF) and the FT's cross-border investment monitor called FDI Markets. The aim of this comprehensive analysis is to identify countries starting the new year with strong macroeconomic performance and impressive FDI growth rates.

Note that the International Monetary Fund (IMF) forecasts Azerbaijan's real gross domestic product (GDP) growth at 2.5 per cent in 2024.

The list was topped by Cambodia, which will maintain high investment growth rates in 2024. Cambodia topped the list due to its high economic growth rate, expected GDP increase of 6.1 per cent in 2024, and successful trade relations with China and South Korea.

It should be noted that Azerbaijan's Caspian neighbour, Kazakhstan, took the sixth position in the aforementioned FDI Intelligence FDI ranking for 2024.

In turn, the top 10 countries, in addition to Azerbaijan, Kazakhstan and Cambodia, include the Philippines, Kenya, Iraq, Namibia, Morocco, Serbia and India.