Azerbaijani PM participates in "Dushanbe 2023" International Investment Forum (PHOTO)

Economy Materials 29 September 2023 10:49 (UTC +04:00)
Azerbaijani PM participates in "Dushanbe 2023" International Investment Forum (PHOTO)
Asif Mehman
Asif Mehman
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BAKU, Azerbaijan, September 29. The International Investment Forum "Dushanbe 2023" was held in the capital of Tajikistan, Dushanbe, on September 29, Trend reports.

The Prime Minister of the Republic of Azerbaijan, Ali Asadov attended the forum.

At the opening of the event, a video message from the President of Tajikistan, Emomali Rahmon, to the participants of the forum was shown.

Speaking at the forum, Asadov noted the importance of the International Investment Forum "Dushanbe 2023". It was noted that the forum has established itself as an effective international platform for strengthening cooperation in the areas of investment and business, as well as for familiarizing itself with the economic potential and investment opportunities of Tajikistan.

Asadov informed the forum participants about the economic development and favorable investment environment of Azerbaijan.

It was emphasized that the economy grew by 4.6 percent in 2022, reaching a record high of almost $80 billion. The non-oil and gas sector grew by 9.1 percent. The country's strategic foreign exchange reserves currently exceed $67 billion. Azerbaijan's foreign debt has been significantly reduced to 9.3 percent of GDP.

It was noted that to stimulate investment in the economy, the government pursues an "open door" policy using modern technologies and taking into account the best international practices.

The forum participants were informed about the measures taken by the government to reduce the tax burden, eliminate administrative barriers, and improve the legal framework.

"The favorable investment environment created in Azerbaijan opens wide prospects for foreign investors as well, as the country provides equal conditions for local and foreign entrepreneurs," Asadov said.

The Prime Minister invited Tajik investors to get acquainted with the opportunities of seven industrial parks, as well as the Alat Free Economic Zone in Azerbaijan, which offer a favorable business environment, special tax and customs regimes, and a package of fiscal and non-fiscal benefits.

It was noted that the unique geographical location at the crossroads of East-West and North-South transport arteries, together with the infrastructural potential, make the Alat Free Economic Zone a world-scale business platform.

Talking about the ongoing work on the expansion of capacities at Baku International Sea Trade Port, the Prime Minister said that it is conditioned by growing volumes of transportation along international transport corridors passing through the territory of Azerbaijan.

Prospects of cooperation in the agricultural sector were also touched upon.

"Currently, the development of the non-oil sector is one of the main economic priorities of Azerbaijan. As a result of targeted economic policy, diversification of the economy has been achieved, and favorable conditions for the development of the agricultural sector have been created. We widely apply innovative solutions, green energy, and digitalization. The number of agro-parks is growing, of which there are already more than 50," Asadov said.

Moreover, over the past 10 years, the production of agricultural products in Azerbaijan has increased by almost 47 percent. The total volume of agricultural production has increased by more than 3 percent from January through August 2023, year-on-year.

It was emphasized that good prospects for investment cooperation were also opened, taking into account the new realities that emerged in the region with the liberation of Azerbaijani lands from occupation.

"Today the Azerbaijani government is carrying out large-scale work on the restoration and development of liberated territories at the expense of its own financial resources," Asadov said, inviting companies from friendly countries, including Tajikistan, to join the work.

Informing the forum participants about the work Azerbaijan is doing in the field of alternative energy, the Prime Minister emphasized that a number of large projects have already been implemented in this direction with leading companies around the world.

Asadov also mentioned that one of the main goals of the forum was to familiarize people with the economic and investment opportunities of Tajikistan, noting the good pace of socio-economic development in the country.

The development of bilateral relations between Azerbaijan and Tajikistan was also emphasized, the key to which is the successful policy of the leaders of the two countries, Ilham Aliyev and Emomali Rahmon.

Asadov expressed Azerbaijan's interest and readiness to further strengthen friendship and a mutually beneficial partnership with Tajikistan.

"This was once again stated during the state visit of Azerbaijani President Ilham Aliyev to Tajikistan in April this year," he added.