Editor’s note: Zaur Nurmamedov is a journalist and a graduate of the Faculty of Political Science at the Academy of Public Administration under the President of the Republic of Azerbaijan (1993–1999). He previously served as first deputy editor-in-chief of the Vesti.Az news portal (2009–2023). The views expressed in this article are his own and do not necessarily reflect the position of News.Az.
Global capital is no longer drawn merely to countries with high growth rates. Against the backdrop of trade frictions, geopolitical uncertainty and the restructuring of production and logistics chains, investors are increasingly looking for stable markets, predictable rules and long-term opportunities for expansion.
It is in this context that the Second Azerbaijan International Investment Forum in Baku should be viewed. The event is becoming not only a platform for showcasing the country’s economy, but also an indicator of growing international interest in Azerbaijan as a regional hub for capital, infrastructure and new economic connectivity.
The scale of participation speaks for itself: the institutions represented at the forum collectively manage more than $30 trillion in assets. This does not mean that these funds will be invested in Azerbaijan immediately. Yet the level of representation clearly demonstrates that the country is increasingly entering the field of vision of the world’s largest investors, sovereign wealth funds and infrastructure platforms.
From presenting opportunities to making investment decisions
The first Azerbaijan International Investment Forum showed that Baku can serve not only as a venue for discussing prospects, but also as a place where negotiations are translated into practical decisions. Investment agreements worth more than $10 billion were signed during the forum, with over $7 billion directed towards the non-oil sector.
This is particularly significant for a country that is steadily broadening its economic base beyond the traditional oil and gas industry. For investors, the decisive factors are not declarations about diversification, but concrete deals, functioning mechanisms and the state’s ability to support projects at every stage.
The second forum builds on this logic. Its agenda is no longer limited to attracting funding as such. It focuses on partnerships capable of bringing Azerbaijan new technologies, management expertise, access to international markets, digital infrastructure and modern development models.
Source: AZERTAC
Trust as the core investment asset
Speaking at an event entitled “Restoring Trust in a Fragmented World: The South Caucasus as a Pillar of Global Connectivity and Investment Stability,” President Ilham Aliyev said that many leading international companies see Azerbaijan as a reliable partner in various sectors of the economy.
“There is already a very good investment climate in the country. Over the past 20 years, $350 billion has been invested in Azerbaijan, and half of that amount is foreign investment,” the head of state said.
This figure reflects more than the volume of attracted funds. It points to a more important process: Azerbaijan has built a reputation as a state capable of ensuring the implementation of major energy, transport and infrastructure projects. In today’s global economy, such a reputation often determines where capital ultimately goes.
President Aliyev stated that Azerbaijan’s economy has enormous potential.
“The state pays special attention to industrialisation. A state programme was adopted a few days ago, and it provides for many measures. These are the main directions of our country’s and economy’s development. At the same time, the oil and gas sector is also an important part of our economy. It also creates opportunities for the development of local companies, and many new economic opportunities are already emerging.
The oil and gas sector will continue to be an important part of our economy and will generate substantial prosperity. New investments will be made from the revenues generated by it,” the President said.
The essence of this model is that revenues from the energy sector should ensure not only current stability, but also help create a new economy — industrial, technological, logistics-driven and export-oriented.
Source: AZERTAC
$30 trillion in one investment space
More than 3,000 participants registered for the Second Azerbaijan International Investment Forum. A total of 803 foreign representatives from 70 countries arrived in Baku. The Azerbaijan Infrastructure Investment Dialogue brings together around 100 representatives of 48 investment institutions and platforms.
One of the most prominent participants is BlackRock, the world’s largest asset management company. As of 30 June 2026, its assets under management stood at $15.3 trillion. The presence of such an institution at the Baku forum carries both symbolic and practical significance: it indicates that Azerbaijan is increasingly being considered a destination for major, long-term financial decisions.
The participation of Global Infrastructure Partners is equally important. The company works with large-scale projects in energy, transport, digital infrastructure, water management and other strategic sectors. A memorandum of intent signed between the State Oil Fund of Azerbaijan, BlackRock and GIP provides for consideration of up to $1.5 billion in investments over the next three to four years in GIP-managed infrastructure funds and joint investment opportunities.
Potential areas of cooperation include data centres, artificial intelligence infrastructure and airport infrastructure. This shows that discussions are no longer confined to energy assets traditionally associated with the region, but are extending to sectors that will determine the competitiveness of future economies.
BNY, which manages $2.2 trillion in assets and provides custody or administration services for $62.6 trillion in assets, is also represented in Baku. PGIM, another major global player, manages approximately $1.5 trillion.
Sovereign funds think in decades
The nature of the capital represented at the forum is no less important. Alongside private financial groups, the event has brought together sovereign and state investment funds that focus on projects with long investment horizons.
They include ADIA, Singapore’s Temasek, the Türkiye Wealth Fund, Hassana Investment Company, Mumtalakat and other institutions. Such structures do not operate on the basis of quick returns. They invest with decades in mind — in ports, energy systems, transport hubs, renewable energy, water infrastructure and digital networks.
For Azerbaijan, this creates an opportunity to attract not only funding, but also experience in managing complex projects, technological solutions and access to global business networks. Ultimately, investors assess not only the expected return on a project, but also the ability of an economy to sustain it over many years.
Source: Azerbaijan Railways
The Middle Corridor is redrawing the economic map
Azerbaijan’s geographical position is playing an increasingly important role in its investment appeal. Yet it is no longer seen as an abstract advantage on a map; it is becoming a tangible economic asset.
The restructuring of global logistics routes has increased the importance of the Middle Corridor, which connects Central Asia through the Caspian Sea with the South Caucasus, Türkiye and Europe. Azerbaijan’s investments in railway routes, seaports, logistics centres and industrial zones are turning the country into a critical link in this system.
The modernisation of the Baku–Tbilisi–Kars railway, the expansion of the Baku International Sea Trade Port and the development of the Alat Free Economic Zone create opportunities not only for cargo transit. They also provide a foundation for manufacturing sites, processing facilities, warehousing infrastructure and new export chains.
President Ilham Aliyev also drew attention to this in his address to the forum participants. As the head of state noted, the Middle Corridor connects Central Asia through the Caspian Sea with the South Caucasus, Türkiye and Europe. The emerging Zangezur Corridor — the TRIPP connectivity route — could further strengthen Azerbaijan’s role as a regional hub and create new opportunities for trade, investment and industrial cooperation across Eurasia.
For foreign investors, Azerbaijan is therefore becoming more than a domestic market of 10 million people. It offers access to a broader economic space linking Central Asia, the Caspian region, the South Caucasus, Türkiye and Europe.
A new economy needs new capital
Azerbaijan’s investment agenda is becoming increasingly multidimensional. Alongside energy, transport and industry, the focus is shifting towards artificial intelligence, digital infrastructure, green energy, water management, critical raw materials, capital markets and agriculture.
This represents a fundamental change. Azerbaijan is offering investors not isolated projects, but an interconnected economic ecosystem. Energy provides a resource base for industrialisation. Logistics opens access to markets. Digital infrastructure improves economic efficiency. Green energy creates new export and industrial opportunities.
The transition to renewable energy occupies a special place in this strategy. Azerbaijan is maintaining its role as a reliable supplier of conventional energy resources while creating new prospects in solar and wind energy, electricity generation and green technologies. This broadens the very meaning of energy partnership — from exporting raw materials to building a more sophisticated value chain.
The same pattern can be seen in digital and transport infrastructure, industry and agriculture. The emergence of new projects in these areas makes Azerbaijan’s investment profile more diverse and creates multiple entry points for capital.
Source: AIR Center
International assessment: Progress reflected in the numbers
Azerbaijan’s investment attractiveness is being assessed not only by domestic institutions, but also by international analytical centres. The participation of The European House – Ambrosetti as the forum’s strategic partner adds further international weight to these discussions.
According to the Global Attractiveness Index 2026, Azerbaijan improved its position by four places, ranking 60th among 146 countries. Its progress in the Dynamism Index is even more notable: over the past eight years, the country has risen from 145th place to 15th.
Financial stability remains another major advantage. Azerbaijan’s public debt stands at 20.1% of GDP, placing the country eighth globally among states with the lowest public debt-to-GDP ratios.
For international investors, such indicators are not abstract statistics. They point to the state’s ability to preserve financial stability, plan for development and respond to external challenges without undermining its economic foundations.
Baku as a platform for future capital
The Second Azerbaijan International Investment Forum reflects an important shift: Azerbaijan is increasingly positioning itself not only as a recipient of foreign investment, but also as a regional platform where capital can be brought together, channelled and transformed into concrete projects.
Baku is bringing together global asset managers, sovereign funds, international experts, state institutions and representatives of the real economy. This creates conditions for new partnerships in which capital is combined with infrastructure, technology and regional connectivity.
The key task now is to turn the interest of major investors into concrete, long-term projects in industry, logistics, the digital economy, energy and the green transition. Whether this forum becomes merely another high-profile event or an important milestone in Azerbaijan’s transformation into one of Eurasia’s investment centres will depend on precisely that.
(If you possess specialized knowledge and wish to contribute, please reach out to us at [email protected]).
