Saudi investors eye energy, agriculture and tourism opportunities in Azerbaijan

Saudi Arabian investors are showing growing interest in Azerbaijan, particularly in the fields of renewable energy, agriculture and tourism, according to the Small and Medium Business Development Agency under the Ministry of Economy of Azerbaijan (KOBIA).

The agency highlighted that projects in renewable energy, agricultural development and tourism have been identified as especially attractive for Saudi investors, Caliber.Az reports.

Saudi interest increased following the second meeting of the Azerbaijan–Saudi Arabia Joint Business Council, held in May 2023 in Shusha, where the Saudi delegation was presented with investment opportunities in Azerbaijan’s recently liberated territories.

"This presentation played a key role in generating investor interest in projects that could be implemented in these areas," the agency said.

KOBİA also noted that the fifth council meeting, attended by 70 entrepreneurs and held at one of Azerbaijan’s tourist sites, provided an opportunity to showcase the country's tourism potential to a wider audience.

Saudi companies are also said to be keen on initiatives such as “green” energy and the development of “smart villages” as part of Azerbaijan’s broader post-conflict reconstruction and sustainable development strategy.

By Aghakazim Guliyev