Azerbaijan positions one of top ten priority FDI locations in 2024

Azerbaijan is heading into 2024 with a solid boost in investments, holding the seventh spot on the list of prime destinations for foreign direct investment (FDI) in the coming year.

According to the annual FDI Standouts Watchlist research, Azerbaijan's consistent macroeconomic indicators played a critical role in making the country one of the top alternatives for FDI on a worldwide scale, Trend reports.

The FDI study examines the macroeconomic variables and FDI trends of the top 50 worldwide FDI destinations, using data from the International Monetary Fund (IMF) and FDI Markets, the Financial Times' cross-border investment monitoring service. The purpose of this in-depth analysis is to identify countries that will enter the new year with strong macroeconomic indicators and excellent FDI growth rates.

The International Monetary Fund (IMF) forecasts a 2.5 per cent increase in Azerbaijan's real GDP in 2024.

Leading the pack is Cambodia, which is set to sustain high investment growth rates in 2024. Cambodia secures its top spot thanks to rapid economic growth, an anticipated 6.1 per cent GDP increase in 2024, and successful trade relations with China and South Korea.

Notably, Kazakhstan, Azerbaijan's neighbour in the Caspian region, clinched the sixth position in the FDI ranking for 2024, as compiled by FDI Intelligence.

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