Change is accelerating since independence in 1991. By 2008, Azerbaijan had become a world leader in financial reform, halving the red tape required to start a business. The skyline of the capital city, Baku, reveals a jaw-dropping building boom, with apartment complexes and condominiums rising more quickly than they can be occupied. The city is building hotels, museums, and parks, and a formidable new convention center opened in 2012. A bid for the 2024 Summer Olympics is in motion. Foreign investors are jumping in.
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