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SOCAR talks on prospects for engagement in liberated lands

Oil&Gas Materials 26 January 2021 10:59
SOCAR talks on prospects for engagement in liberated lands

BAKU, Azerbaijan, Jan.26

By Leman Zeynalova – Trend:

Return of Azerbaijani people to the liberated lands is the main prerequisite for ensuring sustainable economic development of those territories, Ibrahim Ahmadov, deputy head of the public relations and events department at SOCAR, told Trend.

“Although Karabakh is not rich with oil deposits, it has a great potential in agriculture and tourism. Currently, SOCAR meets the farmers’ carbamide needs in Azerbaijan. The carbamide plant’s production capacity can also cover the demand for carbamide for the development of agriculture in the liberated lands.

Like other developing countries, Azerbaijan is also undergoing transformation from resource-based economy to knowledge-based economy. In this regard, SOCAR and other big companies may be interested in cooperation with prospective high-level innovation centers, technological start-ups and research centers in Karabakh.

For instance, the new development strategy presented by SOCAR to the government also includes venture investments. I believe that in the future, SOCAR may be engaged as a shareholder or a partner in the promising start-ups both in Karabakh and other territories of Azerbaijan,” he concluded.

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Follow the author on Twitter: @Lyaman_Zeyn

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