Azerbaijani President Ilham Aliyev has said the execution of a social apartment project will revitalize the country`s construction sector. “The construction of social apartments will be of great help to those who need houses. And this project will also revitalize our construction sector,” said the head of state as he laid a foundation stone of the first nine-storey building and school in Yasamal residential complex, the first project of the State Housing Construction Agency (MIDA) under the President of Azerbaijan.

The President said the construction sector, which has experienced a downturn recently, will be revitalized thanks to the activity of the State Housing Construction Agency and other projects. He said this downturn was caused by decrease in government funding. “And this is natural because our revenues fell, and we invested our revenues in addressing social issues. I should note that no social project has been cancelled this year.”

The President said that the policy of reforms and diversification allowed Azerbaijan to have provided itself with major building materials. “So we will not depend on imports in the execution of these projects. 80-90 per cent of the building materials to be used in the construction of these buildings will be Azerbaijan-made materials. This will, first and foremost, decrease dependence on imports. On the other hand, by manufacturing building materials local companies will improve their financial situation,” President Ilham Aliyev added.