BAKU, Azerbaijan, September
26. Azerbaijan Industry Bank OJSC (ASB Bank) is
conducting negotiations to expand its operational reach abroad,
including in London, Chairman of the Supervisory Board of Azersun
Holding and Chairman of the Supervisory Board of Azerbaijan
Industry Bank OJSC, Tahir Gozal, told Trend in an exclusive interview.
He noted that the primary focus is currently directed more
towards the development areas of Azersun Holding than the banking
sector itself.
"My long-term goal for ASB Bank is to expand corporate banking,
attract new corporate clients, and open bank branches in foreign
countries. Negotiations regarding this are currently underway, for
instance, in London. However, this is not an urgent matter for me
at the moment," Gozal said.
According to him, Azersun Holding is also exploring
opportunities to make greater contributions to the country and
undertake new investments.
"We intend to make new investments in the paper industry,
specifically in the production of recycled paper. Meetings
regarding this are currently taking place. Cardboard and packaging
production are very important for the country," he pointed out.
Gozal announced that the company plans to double the production
capacity of one of its existing plants.
"We want to double the size of our second plant. This creates
export potential, and we aim to operate with an export-oriented
focus," he added.
Moreover, according to him, Azersun Holding is considering
future investment opportunities in technology and artificial
intelligence, and the possibility of establishing relevant data
centers is being explored.
"Can Azersun enter the field of artificial intelligence? Are
there opportunities regarding AI infrastructure and the
construction of data centers? That is precisely why I’m attending
this meeting—to forge new connections and discuss how we might
implement this. We need to elevate our country's intellectual
level," he explained.
Gozal also noted that while Azersun initially focused on the
food industry during its development phase, the company has now set
a goal to expand into the technology sector.
"We started in the food sector to build plants - large-scale
facilities - and to strengthen our position. We want to move beyond
the food sector and into technology. That is our goal, and we are
moving in that direction," he emphasized.
The 2nd Azerbaijan International Investment Forum is being held
in Baku. The two-day forum is organized by the Ministry of Economy
and its subordinate Azerbaijan Export and Investment Promotion
Agency (AZPROMO), with The European House–Ambrosetti as its
strategic partner.
The plenary and panel sessions at the forum address strategic
topics including the Middle Corridor, energy and green transition,
artificial intelligence and digital transformation, infrastructure,
industry and free economic zones, critical raw materials,
agribusiness, financial cooperation, small and medium-sized
business development, tourism, and investment in real estate and
human capital.
