Azerbaijan, Saudi Arabia discuss promoting investment PHOTO

Azerbaijan’s Minister of Economy Mikayil Jabbarov has met with a Saudi Arabian delegation led by Deputy Minister for Oil and Gas Technical and Regulatory Affairs Majed Hindi Aluteibi to discuss initiatives aimed at ensuring the sustainable development of economic relations, stimulation of investments, expansion of joint activities in the field of energy and industry between the two countries.

The Minister of Economy hailed the successful development of economic relations between Azerbaijan and Saudi Arabia, saying the energy sector has been identified as one of the main directions on the agenda of bilateral cooperation. The presence of a favorable environment for investors in Azerbaijan was pointed out, the importance of the project implemented by Saudi Arabia's ACWA Power Company in the field of alternative and renewable energy in the country was underlined at the meeting. Apart from that, the importance of considering opportunities to expand investment cooperation and exchange experience in digitalization during the energy transition was emphasized, Caliber.Az reports.

Deputy Energy Minister Majed Hindi Aluteibi hailed the expansion of mutually beneficial business dialogue between the Kingdom of Saudi Arabia and Azerbaijan, shared his views on the agenda of bilateral economic relations and implementation of joint projects.

The sides exchanged views on initiatives ensuring sustainable development of economic relations with Saudi Arabia, promotion of investments, opportunities for expansion of joint activities in the fields of industry and energy.

“We explored avenues for promoting investments and discussed opportunities for expanding joint activities in the fields of renewable energy and industry,” Minister Jabbarov made a post on his X account.

Səudiyyə Ərəbistanı Krallığının energetika nazirinin #neft və #qaz texniki və tənzimləmə məsələləri üzrə müavini Məcid bin Hindi Aluteibi ilə ölkələrimizin #iqtisadi əlaqələrinin dayanıqlı inkişafını təmin edən təşəbbüslər, #investisiya-ların təşviqi, #bərpaolunanenerji və… pic.twitter.com/EFi8K0pdKE

— Mikayil Jabbarov (@MikayilJabbarov) February 20, 2024