Low inflation, relatively low public debt, and financial reserves in the country have created a stable economic foundation.
Modern.az reports that Minister of Economy Mikayil Jabbarov said this during his speech at the Second International Investment Forum.
M. Jabbarov noted that a special commission, chaired by the Deputy Prime Minister, is operating to accelerate the implementation of agreements, and operational issues arising in strategic investment projects are immediately resolved.
Emphasizing that Azerbaijan, which is geographically landlocked, has already become an international transport hub, the minister recalled that Baku Port, the Baku-Tbilisi-Kars railway, and the Caspian cargo fleet are the main elements of the Middle Corridor:
"According to the World Bank's assessment, with proper investments, it is possible to increase trade flows along the Middle Corridor by 3 times and reduce transit time by half by 2030. Infrastructure construction has been completed, now the main goal is to increase service quality, digitalization, and make the route more competitive in terms of cost-time."
M. Jabbarov drew attention to the fact that the peace established in the region increases the economic capitalization of Central Asia and the South Caucasus and opens up new investment opportunities.
He also announced statistics on the dynamics of the non-oil sector:
“In 2021–2025, real growth in the non-oil and gas sector averaged 6% per year. The non-oil industry grew by 50%. Non-oil and gas exports almost doubled. In 2025, the share of the non-oil and gas sector in GDP reached 71%, and 82% is planned for 2030.”
M. Jabbarov said that modern corridors combine 5 main flows: goods and services, energy, data, capital, and people:
“A digital hub is being created with the Trans-Caspian fiber-optic cable project, and at the same time, green energy corridors are being laid from Central Asia and via the Caspian-Black Sea route to Europe. Thanks to the State Program on Education Abroad, thousands of highly qualified personnel are being trained. A special legislative package on highly qualified migrants is being discussed in parliament to attract IT and data specialists.”
Finally, M. Jabbarov invited foreign investors to partnership in mining, metallurgy, petrochemicals, agriculture, and renewable energy in the liberated territories.
