BAKU, Azerbaijan, October 1. Azerbaijan’s
Minister of Economy Mikayil Jabbarov highlighted digital
transformation, energy, and “green” investments as the three main
areas offering the greatest opportunities for cooperation in the
region at the CAMCA regional forum in Baku, Trend’s correspondent reports
from the event.
The minister stated that countries in the region should expand
joint production in areas where their economies have complementary
advantages and build regional value chains.
“We must cooperate more and more, building regional value chains
in areas where our economies have complementary advantages. Our
major companies and financial institutions are already operating
and are represented in each other’s markets,” Mikayil Jabbarov
said.
He emphasized that trust in a partnership is measured not only
by signed documents but also by the results achieved.
“We believe that trust is measured not by signatures, but by
results achieved. Last week, the 2nd Azerbaijan International
Investment Forum was held in this city. During the forum, 23
contracts and agreements totaling $10.8 billion were signed in
areas such as artificial intelligence, renewable energy, the
digital economy, industry, agriculture, pharmaceuticals, finance,
and water management,” the minister noted.
According to him, countries and companies from Central Asia, as
well as American companies and corporations, actively participated
in the forum.
“The forum brought together investors with total assets worth
$30 trillion. Among them were companies such as BlackRock, Global
Infrastructure Partners, and Brookfield Asset Management. This is a
clear indication of growing confidence among international
investors in Azerbaijan,” Mikayil Jabbarov said.
The minister noted that Azerbaijan is striving to turn the
signed commitments into actual production and economic
activity.
“We are striving to translate our commitments into concrete
action. We support investors through a unified coordination
mechanism. An intergovernmental commission headed by the Deputy
Prime Minister has been established to implement strategic
projects,” he emphasized.
Mikayil Jabbarov noted that the focus is on public-private
partnerships in Karabakh and East Zangezur.
“Infrastructure is being built here, and the next step is to
ensure economic activity,” the minister noted.
He noted that the greatest opportunities for regional
cooperation lie in the areas of digital transformation, energy, and
“green” investments.
“In our view, the greatest opportunities for cooperation lie in
three areas: digital transformation, energy, and ‘green’
investments,” said Mikayil Jabbarov.
The minister noted that Azerbaijan has approved the National
Strategy on Artificial Intelligence for 2025–2028.
“The strategy focuses on data infrastructure, skills, business
applications, and ethics. A competitive energy sector and
high-speed connectivity provide a natural foundation for data
centers and artificial intelligence infrastructure,” he said.
Mikayil Jabbarov emphasized that new opportunities are also
emerging in the energy sector.
“Wind and solar power plants are already operational in
Azerbaijan and the region, and new projects are being implemented
in cooperation with international partners,” the minister
noted.
According to him, hosting COP29 in Baku in 2024 has left a
practical legacy in terms of “green” investments.
“Hosting COP29 in Baku in 2024 has left a very practical legacy.
Green corridors across the Caspian and Black Seas open up
opportunities for investors seeking to invest in energy production,
energy transmission, energy storage systems, and energy-intensive
industries,” said Mikayil Jabbarov.
The minister noted that Azerbaijan’s role in the region is based
on the principle of fulfilling specific commitments and creating
opportunities for cooperation.
“Azerbaijan’s role in this region is based on a simple
principle: we fulfill the commitments we have made and open the
door to cooperation. The Baku-Tbilisi-Ceyhan Pipeline and the
Southern Gas Corridor were implemented at a time when many
considered their implementation unrealistic,” he said.
Mikayil Jabbarov described the infrastructure projects along the
Middle Corridor as a sign of Azerbaijan’s commitment to its future
development.
“Investments in the Middle Corridor’s infrastructure are the
best example of our commitment to future development. The
development of ‘green’ energy corridors and the Black Sea cable
with our partners in the region is another indication of this,” the
minister noted.
He said that the world is becoming an important asset for
regional economic development.
“We view peace as a very obvious economic asset. In our view, as
a result of this process, the market capitalization of the region
as a whole and of each country in the region has increased
significantly. The peace process transforms regional
interconnections into opportunities that can benefit the entire
South Caucasus and Central Asia. Because a more connected region is
a more stable region,” Mikayil Jabbarov emphasized.
The minister concluded his remarks by stating that human capital
is the region’s most important asset.
“We believe that human capital is our greatest asset.
Infrastructure and energy alone cannot create prosperity; it is
people who create it. In each of the sectors I have described, the
limiting factor is not a lack of capital or mineral resources, but
skills,” he said.
“Our approach is to link education to the economy and, of
course, the labor market. Our strategy in the field of artificial
intelligence includes training programs and the AI Academy. The
Digital Development Action Plan for 2026–2028 aligns education in
information and communication technologies, artificial
intelligence, and cybersecurity with market needs,” the minister
said.
He called on international partners not only to invest capital
but also to contribute to the training of local engineers and
specialists.
“We ask our partners not only to invest capital but also to
contribute to the training of local engineers and specialists. We
encourage more active collaboration between our universities,
vocational training centers, and businesses. Because a region that
jointly trains talent and creates conditions for their mobility
develops together,” added Mikayil Jabbarov.
