President Ilham Aliyev’s Davos agenda, during his business trip to the Swiss Confederation, is proving to be highly productive and meaningful. The meetings held on the first day of the visit with the heads of the world’s leading investment, financial, and digital technology companies can be assessed as an example of Azerbaijan’s economic and investment attractiveness, financial power, and, at the same time, a manifestation of the great geo-economic interest in our country.
The meetings of the President with key figures in the global business sector, including the heads of “Vestas Wind Systems”, “BTG Pactual”, “Nordic-Baltic Eight”, “BlackRock”, “Global Infrastructure Partners”, “DP World”,”Carlsberg Group”, “J.P. Morgan”, “Brookfield Asset Management”, “Dell Technologies”, as well as the President of the European Bank for Reconstruction and Development, reflect the modern level of cooperation and are of great importance in terms of assessing new opportunities in an era of new economic challenges.
Most of these holdings and financial institutions, distinguished by their global operational geography, are close and professional partners in the management of Azerbaijan’s financial assets, and the discussions held are of great importance. In particular, the determination of new strategic priorities between such companies as SOCAR, a giant energy supplier, as well as ARDNF, Azerbaijan’s sovereign financial institution, creates a solid foundation for the realization of new economic priorities.
One of these corporations, the meeting with Jamie Dimon, Chairman and CEO of the US company “J.P. Morgan”, is of particular importance. This is one of the important details of the exchange of new asset management practices in the context of international investment challenges with the State Oil Fund of the Republic of Azerbaijan. Also, broad exchange platforms with other global companies are of particular importance in terms of assessing our country’s geopolitical position in the formation of modern logistics and communication hubs.
Other meetings held in Davos are also important in terms of a rich presentation on Azerbaijan’s favorable investment climate, the expansion of business investment channels, opening the way for opportunities and dividends for the establishment of modern technological production chains, encouraging Azerbaijan to become a new capital investment destination for international investors, and engaging global investors in an active dialogue platform.
President Ilham Aliyev’s meetings with the Presidents of Finland and Israel, the Prime Ministers of the Czech Republic, Qatar, and the Iraqi Kurdistan Region, and other leaders also demonstrate the development of bilateral relations between the countries and a spirit of strong trust.
President Ilham Aliyev’s meeting with business representatives from various countries at the event “Breakfast with the leadership of Azerbaijan” and answering their questions was also met with interest. The points recalled by the head of our state, who answered the questions with precision and at the same time demonstrated a conceptual approach to the issues, can be characterized from several contexts.
Firstly, Azerbaijan is diversifying its economy by implementing deep reforms, developing the non-energy sector, and considers close relations with foreign business communities a priority in this process.
Secondly, Azerbaijan is a reliable and loyal partner, actively participating in the energy and logistics solidarity of the region and surrounding geographies. As one of the authors of the East-West energy and transport arteries, it has established a wide supply system. Being the main supplier of energy needs of European countries, it currently exports approximately 13 billion cubic meters of gas per year to more than 10 EU countries. According to the agreement reached with the President of the European Commission, it is planned to double the volume of gas supply to 16 billion cubic meters.
Thirdly, the main page of Azerbaijan’s modern energy agenda is to build an alternative energy architecture and reduce carbon emissions as an exemplary state that complies with global climate commitments, and to ensure the transition to clean energy. The new investment program in this direction is to develop “green energy” zones and increase the production of renewable energy to 8 gigawatts. According to the target scenario calculated for 2032, it is possible to save 3-4 billion cubic meters of gas thanks to the construction of wind and solar power plants and the sustainability of “green powers”.
Also, a new era has begun in the mining sector, which has been identified as one of the main divisions of modern development. Rich in precious metals, Azerbaijan is currently in an active research phase using the most modern technologies.
Fourthly, it is to actively participate in modern transport hubs and deepen the reintegration of strategic corridors. Azerbaijan has taken decisive steps in this area, investing heavily in the modernization of transport links with neighboring countries, and has opened a railway line originating from Azerbaijan, passing through Georgia and Turkey, and from there to Europe and the Mediterranean ports.
Now, work is underway on a project from Azerbaijan in the Eastern direction, and one of the intentions of our state, which became a full member of the Consultative Meeting of the Heads of Central Asian States last year, is to update the geographical schemes of logistics by turning the five-member format into a six-member format.
Thus, thanks to this unique policy, Azerbaijan is becoming the only reliable, safe, and well-intentioned destination country for Europe, aiming to create a connection with Central Asia.
Azerbaijan is ensuring the sustainability of the non-oil economy by giving special importance to human capital and ensuring the flow of investment to non-oil sectors. The main purpose of the meetings of the head of state with the heads of large corporations in Davos is to promote the attraction of new investments in renewable energy, digital development and modern technological sectors.
Azerbaijan is a reliable economic partner, a country that accepts foreign investment and is open to capital. As the President stated, this policy can turn Azerbaijan into one of the main centers for investors.
Ramid Namazov
Milli Məclisin deputatı