Mikail Jabbarov named the main advantage of Azerbaijan for investors

A key factor in Azerbaijan's investment attractiveness, along with political and macroeconomic stability, as well as its strategic geographic location in the region, is the country's stable and reliable financial system.

This was stated by Azerbaijan's Minister of Economy Mikayil Jabbarov in response to a question from Report at the closing press conference of the 51st Annual Meeting of the Islamic Development Bank (IsDB) Group in Baku.

The minister recalled that as part of the annual meetings, a session titled "Investment Prospects of Azerbaijan" was organized, during which the country's economic and investment opportunities were presented.

"These opportunities are reflected in our documents concerning national economic priorities. As is known, our main emphasis is on stimulating economic growth and the development of Azerbaijan's non-oil and gas sector, which over the past five to six years has become a real engine of growth.

Among the specific areas, opportunities, and priorities are non-oil manufacturing, the mining industry and extraction of critically important raw materials, the agricultural sector, as well as the processing of agricultural products. Of course, this includes transport and logistics, taking into account both the natural geographic location of Azerbaijan and our consistent policy of further capital investment in the development of transport infrastructure," M. Jabbarov emphasized.

The minister also drew attention to the tourism sector, noting that the hosting of this event itself clearly demonstrated and revealed the country's tourism potential.

"It should also be noted that the sphere of renewable energy sources and financial services, as well as the digital transformation of the economy, continue to remain distinctive cross-cutting (horizontal) areas. In my opinion, the main investment attractiveness of Azerbaijan — apart from political and macroeconomic stability, as well as its strategic geographic location in the region — lies in its stable and reliable financial system. This is manifested in an extremely low level of public debt, a very significant and stable volume of foreign exchange and gold reserves, as well as in the recognition of the country's investment attractiveness by international rating agencies. All this information was presented to participants, investors, and international financial institutions.

I believe that the private sector, especially Azerbaijani companies, did an excellent job presenting these opportunities," M. Jabbarov added.