Politics

Envoy: Japan eyes more investment in Azerbaijan for logistics

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Japan expects to have more investment in Azerbaijan for logistics, Ambassador of Japan to Azerbaijan Junichi Wada told Report.

He noted that the increase in investments is expected because the Azerbaijani government expands opportunities for foreign companies through the improvement of an economic zone with a special tax system and transportation.

“Regarding the bilateral cooperation, we have implemented Official Development Assistance projects such as Shimal Gas Combined Cycle Power Plant Project, provision of grant for Procurement of Medical Equipment and others. More than 268 Grassroots Grant Projects which the government of Japan funded have been implemented in the fields of education, agriculture, water supply, and irrigation system in 56 regions of Azerbaijan,” he said.

Additionally, more than ten Grassroots Grant Projects are expected to be implemented across the country in 2022: “I hope that these projects continue to help the people of Azerbaijan,” said the ambassador.

Besides these, the energy sector is a major pillar of bilateral economic relations of Azerbaijan and Japan and continues to make good progress, such as the extension of the ACG (Azeri-Chirag-Gunashli) Production Sharing Agreement of Japanese oil companies in September 2017, he added.

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