Many leading international companies from different sectors of the economy consider Azerbaijan a reliable partner, President Ilham Aliyev said, highlighting the country’s investment climate and economic priorities.
Speaking at the event themed “Restoring Trust in a Fragmented World: The South Caucasus as a Pillar of Global Connectivity and Investment Stability,” organised as part of the 2nd Azerbaijan International Investment Forum in Baku, the president said the country already has a very good investment climate, Caliber.Az reports, citing state media.
“Many leading international companies from different sectors of the economy consider Azerbaijan as a reliable partner,” he said.
He noted that Azerbaijan’s economic priorities include renewable energy, the use of additional electricity capacity and attracting local and foreign investment.
“As for the main priorities, I would name several. One of them is renewable energy. We have enormous potential. So our target is to reduce to 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,” Aliyev said.
The president said Azerbaijan also sees opportunities to make maximum use of additional electricity capacity domestically, particularly for artificial intelligence data centres, as well as to export electricity.
“Having extra capacity of electric power, definitely, we look in two directions. First, how to use to maximum degree domestically with respect to AI data centers, and how to export,” the head of state added.
Aliyev also pointed to changes affecting traditional supply chains, saying these developments could create opportunities for investment.
“Some of the traditional supply chains are at certain risk. So this is a great opportunity for local and foreign investments,” he said.
By Sabina Mammadli
