Baku: China is poised to make significant investments in Azerbaijan’s transport, logistics, clean energy, and smart projects, as revealed by He Zhenwei, President of the China Overseas Development Association (CODA), during the International Investment Forum.
According to Azeri-Press News Agency, He Zhenwei highlighted that a delegation of 20 Chinese companies, predominantly from the private sector, accompanied him to Azerbaijan to explore potential investment opportunities. He emphasized the forum’s role in attracting investment to Azerbaijan and encouraged local stakeholders to capitalize on the active interest of Chinese private enterprises.
He also elaborated on the shift in China’s investment focus from the oil and gas sector to the non-oil sector, aligning with Azerbaijan’s strategic development goals. Key areas identified for investment include the transport and logistics sector, clean energy initiatives such as wind and solar projects, and smart projects including smart cities and buildings, which are seen as having significant development potential in Azerbaijan.
Further insights were provided by Kris Allum, an official representative of the UK Export Finance, who discussed the prospects of implementing transport and logistics projects in Azerbaijan. Allum pointed out that the UK’s financing opportunities are centered on transport infrastructure like toll roads and railways, drawing on successful experiences in Turkey. He also underscored the importance of decarbonization and affirmed the UK’s support for clean energy projects in Azerbaijan.