This article focuses on Ibrahim Ibrahimov and his plans to
build a large complex of islands, with many luxury attractions and dwellings
(think Dubai but in the Caspian sea). MORE importantly, it talks of the
troubles facing a post-soviet Azerbaijan, it’s economic struggles, and how far
it has come since becoming truly independent.
After the dissolution of the USSR in the early 90’s,
Azerbaijan gained it’s independence in 1991. Since then, they have experienced
tremendous growth and greater economic freedom from the transition of a command
to a market economy. Compared to other ex-soviet countries in the area,
Azerbaijan is particularly well-off considering it sits atop large oil
reserves. Primarily an oil-based economy, Azerbaijan is looking to diversify.
And with the help of some of its most wealthy and ambitious citizens this is a
possibility.
1 comment:
This is a really interesting article - I had no idea Azerbaijan had the potential to become a regional economic powerhouse. I do wonder how much of Ibrahimov's wealth was accumulated legitimately, though...since post-Soviet nations aren't exactly renowned for their lack of corruption.
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