Baku:An event titled ‘Restoring Trust in a Fragmented World The South Caucasus as a Pillar of Global Connectivity and Investment Stability’ was part of the 2nd Azerbaijan International Investment Forum, held under the patronage of President Ilham Aliyev of Azerbaijan.
According to Azerbaijan State News Agency, President Aliyev participated in this event and engaged in a discussion with Adebayo Ogunlesi, Chairman and CEO of Global Infrastructure Partners. The moderator highlighted Azerbaijan’s remarkable economic transformation over the last two decades under President Aliyev’s leadership, noting a tenfold increase in GDP and significant poverty reduction.
During the event, President Aliyev outlined his vision for Azerbaijan’s future economic growth, emphasizing the importance of sectors beyond oil and gas. He highlighted renewable energy, logistics, transportation, and connectivity as key drivers of future development. President Aliyev mentioned the potential of Azerbaijan’s renewable energy sector, including significant power capacity in the Azerbaijani sector of the Caspian Sea.
President Aliyev also discussed Azerbaijan’s strategic role in reshaping global trade and supply chains, emphasizing the country’s investment in infrastructure such as railroads, seaports, and highways. He noted the importance of maintaining good relations with neighboring countries to enhance Azerbaijan’s position as a transit hub.
In terms of competitive advantages, President Aliyev pointed to Azerbaijan’s political and economic stability, low public debt, and strong financial system. He underscored the country’s commitment to creating a favorable investment climate and highlighted ongoing efforts to diversify the economy beyond oil and gas.
The President identified oil and gas, digital development, and agriculture as key areas for investment. He mentioned new contracts with major energy companies and the exploration of new oil and gas fields as opportunities for growth. Additionally, President Aliyev expressed interest in expanding Azerbaijan’s role in digital transformation and infrastructure development, inviting global partners to contribute technology and expertise.
President Aliyev concluded by emphasizing Azerbaijan’s openness to business and its commitment to maintaining a stable and attractive investment environment. He encouraged potential investors to explore opportunities in Azerbaijan and to consider the country’s strategic location and resources.