BAKU, Azerbaijan, September 25. Azerbaijan’s National Development Strategy through 2030 envisages further economic diversification with a focus on the private sector, Economy Minister Mikayil Jabbarov said Friday at the second Azerbaijan International Investment Forum in Baku, Trend’s correspondent reports from the event.
According to Jabbarov, priority areas under the strategy will include industrial production, services and investment in human capital.
“Further diversification of the economy should be led by the private sector, with a focus on areas such as industrial production and the development of services, while placing greater emphasis on investment in human capital and people so that they are prepared for the changes taking place,” Jabbarov said.
He noted that the energy transition and artificial intelligence will play an important role in implementing the strategy, including by increasing economic productivity and improving the delivery of public services.
According to the minister, ensuring access to long-term financing and developing capital markets will be among the key priorities through 2030.
“Regional partnerships are of paramount importance, as an important part of the strategy is export-oriented. We cannot afford to be limited by our domestic market,” he said.
Jabbarov also highlighted the importance of the Middle Corridor, stressing that its role extends beyond the transportation and transit of goods.
“The Middle Corridor is not only a means and route for transporting or transiting goods, but also involves joint processing, the creation of hubs, the development of a favorable environment, a financial center and regional financial resources, as well as joint investments,” he said.
According to Jabbarov, these areas are part of the objectives of Azerbaijan’s National Development Strategy through 2030.
The second Azerbaijan International Investment Forum is being held in Baku.
The two-day event is organized by Azerbaijan’s Ministry of Economy and its subordinate Azerbaijan Export and Investment Promotion Agency (AZPROMO), in strategic partnership with European House – Ambrosetti.
This year’s forum is dedicated to the theme “Restoring Trust in a Divided World: The South Caucasus as a Pillar of Global Interconnectedness and Investment Stability” and brings together leading global investors, government representatives, international financial institutions and business leaders.
