President Ilham Aliyev has highlighted Azerbaijan’s security, transport connectivity, economic diversification and renewable energy potential, as he addressed the Second Azerbaijan International Investment Forum in Baku.
Speaking at an event themed “Restoring Trust in a Fragmented World: The South Caucasus as a Pillar of Global Connectivity and Investment Stability”, Aliyev said security was particularly important in the current global environment.
“I think another important factor, especially in today's world, is security. Azerbaijan is one of the safest places in the world,” he said.
“The crime situation is completely under control,” the president added.
Aliyev also highlighted political and economic stability, saying it had continued in Azerbaijan for more than 30 years.
Aliyev said Azerbaijan's geographical position and transport infrastructure were strengthening its role in regional connectivity.
“This is actually an unprecedented event, because geographically we are situated in the Caucasus, but already politically and from an economic and transportation point of view, we are part of the big Central Asian region,” he said.
He also pointed to digitalised transport and customs administration, as well as what he described as clear regulatory rules, as factors that could strengthen Azerbaijan's potential.
“So today we see a growing demand for transportation through Azerbaijan. Whether it's East-West or North-South, we are sitting on these two important junctures,” Aliyev added.
Mining, energy and investment
The president said a new state programme on mining had recently been adopted, describing it as a four-year programme expected to generate economic activity.
“Just several days ago, the state program on mining was adopted. It's a very short-term program for four years, which will generate a lot of activity. So these are the main directions of our development,” he said.
Aliyev also stressed the continuing importance of the oil and gas sector.
He said disruptions to traditional supply chains could create opportunities for investment.
Highlighting the country's economic diversification, Aliyev noted that more than 70 per cent of GDP currently comes from the non-oil sector, while cooperation with international partners is continuing to reduce the dominance of oil and gas in exports.
Aliyev identified renewable energy as one of Azerbaijan's main economic priorities, saying the country has significant potential in the sector.
“Our target is to reduce to a minimum degree the consumption of natural gas to generate power, and to use that reserve for export. And renewables will be in the coming five years everywhere in Azerbaijan,” he said.
The president also pointed to the potential use and export of additional electricity capacity, including for AI data centres.
Aliyev said international companies across different sectors view Azerbaijan as a reliable partner and highlighted the country's investment environment.
“Many leading international companies from different sectors of the economy consider Azerbaijan as a reliable partner,” he said.
The president added that Azerbaijan already has what he described as a “very good investment climate.”
As part of the event, a ceremony for the exchange of documents signed on the margins of the Second Azerbaijan International Investment Forum was held, with the participation of President Ilham Aliyev.
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