Akademik Məlumat İdarəetmə Sistemi
70th International Scientific Conference on Economic and Social Development, vol.8, pp.528-536, 2021 (Conference Book)
ABSTRACT At the article, it is investigated and evaluated the socio-economic problems of attracting international investment in the non-oil sector of the Azerbaijan's economy and gave relevant recommendations on how to eliminate them. Among the many issues currently considered by world economic theory, the problem of foreign investment is one of the most pressing, because the attraction of foreign investment, especially foreign direct investment (FDI) can play a key role in the structural and technical restructuring of the economy. Foreign investment in the country plays an extremely important role in economic development. It is known from world experience that the main goal of countries is to support the production of competitive exportoriented products in the market. In this regard, there is a need to attract financial resources to ensure competitiveness. In this regard, it is necessary to study foreign direct investment in terms of ensuring sustainable economic development as the main source of economic growth. FDI affects economic competitiveness. In order to clarify the nature of the problem in more detail, the motives and mechanisms for attracting foreign direct investment, as well as the reasons for foreign investment, are substantiated. The main purpose of the search is to stimulate the growth of exports to the non-oil sector and identify new sources of foreign investment in the context of improving the attraction of foreign investment in the non-oil sector of the economy and increasing their socio-economic efficiency. The research used the methodology of a systematic approach, methods of analysis, comparison and generalization. The article analyzestheoretical and practical approaches to the main theoretical and methodological principles of FDI research, substantiates the role of placement factors in attracting foreign investment in the context of globalization, and evaluates the impact of foreign investment on the economy of host countries and foreign investment policy. The scientific novelty of the research is to conduct comparative analysis with other countries in the field of attracting foreign investment to Azerbaijan, to develop relevant proposals to improve the attraction of foreign investment in the non-oil sector of the economy. Keywords: non-oil sector, foreign investment, foreign direct investment (FDI), export stimulation, competition