Baku:European companies are showing strong interest in expanding their operations in Azerbaijan, with 52% of firms participating in a recent survey expressing plans to grow their presence in the coming years. Meanwhile, 25% of these companies intend to maintain their current level of activity, as reported by Aytan Akhundova, Team Leader of the Azerbaijan-European Union Business Forum, via APA-Economics.
According to Azeri-Press news agency, the enthusiasm for expansion has slightly diminished compared to the previous year, largely due to the geopolitical situation affecting the region.
Azerbaijan continues to attract companies due to its access to commercial partners and customers, opportunities for strategic cooperation, and entry to the domestic market. However, the survey also highlighted challenges hindering investment, including the limited market size and ongoing global conflicts such as the war in Ukraine.