"The Contract of the Century is an integral part, the beginning of the oil strategy of great leader Heydar Aliyev. Thanks to the courage and wisdom of Heydar Aliyev, Azerbaijan was able to assert itself in the world. For the first time in history, foreign companies began to participate in the development of oil and gas fields in the Caspian Sea. As a result of the signing of the "Contract of the Century", tens of thousands of jobs were created. Thousands of companies in Azerbaijan are involved in the implementation of this contract as contractors. In other words, the Contract of the Century is of great benefit", said President of Azerbaijan Ilham Aliyev at the ceremony to mark the 25th anniversary of the Contract of the Century and Oil Workers Day at the Heydar Aliyev Center, APA reports.
Head of the country stated that Azerbaijan was regarded as a risky country at that time: " Let me reiterate that the occupation of our lands by Armenia, the civil war and the economic difficulties did nothing to demonstrate Azerbaijan as a country favorable for investment. At that time, one of the biggest achievements of Heydar Aliyev was that he was able to convince investors. The leadership of the State Oil Company – our late friend Natig Aliyev, Khoshbakht Yusifzade, Valeh Alasgarov, myself and a few other colleagues tried to convince investors that it was possible and necessary to invest in Azerbaijan and that whoever invested in Azerbaijan today would benefit greatly tomorrow. And so it happened. Investments made in the implementation of the Contract of the Century paid off in full. Foreign investors earned billions of dollars in revenue. The income of the Azerbaijani state has exceeded one hundred billion dollars".
President who has spoken about the importance of the contract said that this contract occupies a worthy place in world because the interests of both the state and investors were secured: "
At the same time, oil revenues created the conditions for the rapid development of our country. We are aware of what is happening in the oil industry in the world. In many cases, oil does not bring happiness. In fact, it brings tragedy, confrontation, inequality and injustice. In Azerbaijan, oil has benefited the people because oil revenues were channelled in our overall development, created the conditions for resolving social issues and ushered opportunities for strengthening the international standing of our country. Modernizing cities, landscaping villages, improvement in the country – our oil industry lies at the heart of all this".