Azerbaijan agrees multi-billion-dollar deals with investment giants

Azerbaijan hosted the second Azerbaijan International Investment Forum (AIIF) and agreed on nearly $11 billion (€9.7 billion) in business deals during its two-day event in Baku. Minister of Economy Mikayil Jabbarov announced that 26 contracts were executed across various sectors, including AI, energy, manufacturing, and production.

Azerbaijan aims to attract international investment beyond its oil and gas industry, which accounts for 72% of GDP in 2025. President Ilham Aliyev highlighted manufacturing, transport, logistics, renewable energy, digital technologies, agriculture, tourism, and infrastructure as key areas for investment. The Azerbaijan Infrastructure Investment Dialogue, a closed-door event hosted by the country's sovereign wealth fund SOFAZ and BlackRock, further emphasized the importance of infrastructure projects.

BlackRock and Global Infrastructure Partners, among others, participated in the forum, showcasing their investments in Azerbaijan. According to the Central Bank of Azerbaijan, over $3 billion in foreign direct investments (FDI) were attracted to the economy in the first six months of 2026, marking a 13.8% year-on-year increase. The leading investors were the United Kingdom, Türkiye, Cyprus, Russia, and Iran.

Investors are exporting capital to foreign economies, primarily to Italy, Türkiye, the UK, the UAE, and Georgia. Neuberger Berman's CEO, George Walker, attributes Azerbaijan's success to continued progress, increased dialogue, and the country's growing importance in the world.