In Baku, within the framework of the First Azerbaijan International Investment Forum held under the patronage of President Ilham Aliyev, a plenary session titled “Azerbaijan and Beyond: Bridging Regions, Building Futures” was held.
At the plenary session, Deputy Prime Minister Samir Sharifov emphasized that as a result of the economic development strategy implemented under the leadership of President Ilham Aliyev, Azerbaijan has become a reliable partner in the regional and global economic system. He provided information about the country’s stable and sustainable macroeconomic environment, balanced budget policy, and strong currency reserves. It was noted that these realities create a favorable and attractive environment for foreign investors. At the same time, today’s forum serves to strengthen relations between countries and regions for mutual cooperation and new initiatives.
Minister of Economy Mikayil Jabbarov spoke about the transparent and reliable investment environment formed in Azerbaijan, the country’s access to international markets, developed transport and logistics infrastructure, investment platforms, and promotion mechanisms. It was noted that as a result of consistent reforms, the country's economy is successfully diversifying, the economic and financial policy of Azerbaijan is transparent and predictable, and strong macroeconomic foundations and a sustainable development strategy are highly rated by international rating agencies. The Minister invited investors to take advantage of the attractive and competitive investment environment established in Azerbaijan.
Simonida Kordić, Minister of Tourism of Montenegro, highlighted the close friendship and fruitful partnership between Azerbaijan and Montenegro. She provided information about Montenegro’s tourism industry and favorable investment climate. The First Azerbaijan International Investment Forum was assessed as an important initiative for showcasing the country’s economic potential as well as promoting the interregional cooperation and economic integration.
Jagoda Lazarević, Minister of Internal and Foreign Trade of Serbia, stated that Azerbaijan and Serbia have strategic partnership relations. She highlighted the importance of implementing new technologies and innovations for a competitive economy. She also spoke about the importance of investing in data centers and technology hubs. It was mentioned that today's forum is an important platform for deepening cooperation.
Nuriel Rubini, CEO of the consulting company “Roubini Macro Associates,” emphasized that although Azerbaijan has rich energy resources, it prioritizes economic diversification and the green transition. He highlighted that the future is built on innovation and that technology is essential for this. He touched on the importance of applying innovations in the digital economy transition, generative artificial intelligence, machine learning, and fintech. He also noted the significance of digital education and artificial intelligence training on the “Coursera” online education platform. He stated that Azerbaijan, strategically located between East and West, North and South, has the potential to expand globalization and transport-logistics cooperation. Azerbaijan creates conditions for attracting foreign direct investment through macroeconomic stability and a favorable business environment.
Mahdi AlAdel, CEO of “Aramco Ventures,” spoke about the company’s activities in the energy and chemical sectors, and investments directed at innovation and technology. He emphasized that energy transformation, changes in the global market, and new economic challenges require the support of innovative technologies and business models.
Steve Nuri, co-founder and CEO of “GenAI Works,” discussed the impact of artificial intelligence on the world, new market opportunities created for business and society, and global trends. He shared key directions and analyses on how to become more competitive using artificial intelligence.
Liza Bodel, CEO of “FutureThink” and author of the bestseller “Why Simple Wins,” shared her thoughts on the role of simplicity in modern business, the impact of technological innovations on the business environment, and the future of work. She expressed her pleasure at becoming acquainted with Azerbaijan’s innovation potential.
Within the framework of the plenary session, an Agreement on Cooperation for the development of the "City within a City" concept was signed between the Ministry of Economy of Azerbaijan and “Modon Holding” of the United Arab Emirates, with the participation of Deputy Prime Minister Samir Sharifov and UAE Minister of Investment Mohamed Hassan Alsuwaidi. The document was signed by Minister of Economy Mikayil Jabbarov and Chairman of “Modon Holding” Jassem Al Zaabi. The concept envisions the creation of a modern coastal zone around the Lake Boyukshor, including health, trade, education, and hotel facilities.
Following this, with the participation of Deputy Prime Minister Samir Sharifov and Minister of Economy Mikayil Jabbarov, a series of documents related to the seawater desalination project were signed. The following documents were signed during the event:
· Public-Private Partnership Agreement on the design, construction, financing, and operation of the Caspian Sea Water Desalination Plant, signed by Zaur Mikayilov, Chairman of the State Water Resources Agency of Azerbaijan, and Marco Arcelli, CEO of Saudi Arabia’s “ACWA Power.”
· Water Purchase Agreement for purified water, signed by Tahir Khalilov, Chairman of the Board of “United Water Supply Service of Large Cities” Public Legal Entity, and Marco Arcelli.
· Land Lease Agreement, signed by Minister of Economy Mikayil Jabbarov, Chairman of the Board of the Economic Zones Development Agency Seymur Adigozalov, and Marco Arcelli.
· State Guarantee Agreement, signed by Minister of Finance Sahil Babayev and Marco Arcelli.
The seawater desalination project is the first pilot project to be implemented in Azerbaijan within the framework of the public-private partnership by the Ministry of Economy. The plant, to be built in Sumgait Industrial Park, will produce drinking water by desalinating seawater. The project, with a daily capacity of 300,000 cubic meters, is valued at 407 million USD. According to the agreement, “ACWA Power” will handle the design, construction, and operation of the plant for 25 years.
The project is being carried out to meet the increasing demand for drinking water on the Absheron Peninsula, diversify freshwater sources, reduce the state's burden in drinking water supply, stimulate the transfer of international experience and technology in this field, and attract foreign investment to the economy.
Within the plenary session, Valerio De Molli, Managing Partner of “The European House – Ambrosetti” think tank, delivered a speech titled “Azerbaijan and the South Caucasus: A Central Hub for Investment Growth.” He highlighted Azerbaijan’s growing role as a dynamic and promising investment destination. Presenting comparative analyses from global markets, he stressed the strategic importance of the South Caucasus region. He noted that regional cooperation plays a crucial role in sustainable economic development and building long-term partnerships.
It is noteworthy that under the patronage of President of the Republic of Azerbaijan, Mr. Ilham Aliyev, the First Azerbaijan International Investment Forum on the theme “Advancing East-West, North-South connectivity in a fragmented global economy” kicked off in Baku. The forum, held on September 22-23, is organized by the Ministry of Economy, the Export and Investment Promotion Agency – AZPROMO, with strategic partnership from “The European House – Ambrosetti” think tank, and with media support from “Euronews” and organizational support from the “Sea Breeze” tourism zone. The event gathered over 1,000 participants, including high-level officials from various countries, representatives of leading local and international companies and financial institutions, think tanks, business representatives, global investors, and the local and foreign media.
