Azerbaijan attracted nearly $340 billion in investment over past 20 years, PM says

Azerbaijan has attracted more than $338 billion in investments over the last two decades, Prime Minister Ali Asadov announced at the 4th Tashkent International Investment Forum.

Speaking at the forum, Asadov highlighted the country’s favourable investment climate, which continues to open broad opportunities for both domestic and foreign investors, Caliber.Az reports, citing local media.

“Azerbaijan and Uzbekistan are actively exploring a range of promising projects across various sectors,” the prime minister said. “Our Azerbaijani-Uzbek investment company, with a charter capital of $500 million, is currently reviewing several potential ventures.”

Asadov emphasised the growing importance of alternative energy cooperation between the two countries. “Azerbaijan has an ambitious agenda in alternative energy, with several large-scale projects already underway alongside leading global companies.”

He also noted Azerbaijan’s expanding role as a supplier of green energy to Europe.

“Together with Georgia, Romania, and Hungary, we are working on establishing a green energy corridor beneath the Black Sea to Europe. Furthermore, during COP29, the leaders of Azerbaijan, Uzbekistan, and Kazakhstan signed an agreement to facilitate green energy exports to Europe via the Caspian Sea – Black Sea route,” the prime minister added. 

The Tashkent International Investment Forum (TIIFF) is an annual event organized by Uzbekistan to promote foreign investment, foster economic cooperation, and showcase the country's development opportunities. The fourth edition of the forum is scheduled to take place in 2025.

The forum serves as a platform for government officials, business leaders, and investors to discuss key sectors such as infrastructure, energy, agriculture, and technology. It aims to attract investment, facilitate partnerships, and support the country's economic growth and modernization efforts.

By Khagan Isayev