BAKU, Azerbaijan, September 26. Azerbaijan Industry Bank OJSC (ASB Bank) is conducting negotiations to expand its operational reach abroad, including in London, Chairman of the Supervisory Board of Azersun Holding and Chairman of the Supervisory Board of Azerbaijan Industry Bank OJSC, Tahir Gozal, told Trend in an exclusive interview.
He noted that the primary focus is currently directed more towards the development areas of Azersun Holding than the banking sector itself.
"My long-term goal for ASB Bank is to expand corporate banking, attract new corporate clients, and open bank branches in foreign countries. Negotiations regarding this are currently underway, for instance, in London. However, this is not an urgent matter for me at the moment," Gozal said.
According to him, Azersun Holding is also exploring opportunities to make greater contributions to the country and undertake new investments.
"We intend to make new investments in the paper industry, specifically in the production of recycled paper. Meetings regarding this are currently taking place. Cardboard and packaging production are very important for the country," he pointed out.
Gozal announced that the company plans to double the production capacity of one of its existing plants.
"We want to double the size of our second plant. This creates export potential, and we aim to operate with an export-oriented focus," he added.
Moreover, according to him, Azersun Holding is considering future investment opportunities in technology and artificial intelligence, and the possibility of establishing relevant data centers is being explored.
"Can Azersun enter the field of artificial intelligence? Are there opportunities regarding AI infrastructure and the construction of data centers? That is precisely why I’m attending this meeting—to forge new connections and discuss how we might implement this. We need to elevate our country's intellectual level," he explained.
Gozal also noted that while Azersun initially focused on the food industry during its development phase, the company has now set a goal to expand into the technology sector.
"We started in the food sector to build plants - large-scale facilities - and to strengthen our position. We want to move beyond the food sector and into technology. That is our goal, and we are moving in that direction," he emphasized.
The 2nd Azerbaijan International Investment Forum is being held in Baku. The two-day forum is organized by the Ministry of Economy and its subordinate Azerbaijan Export and Investment Promotion Agency (AZPROMO), with The European House–Ambrosetti as its strategic partner.
The plenary and panel sessions at the forum address strategic topics including the Middle Corridor, energy and green transition, artificial intelligence and digital transformation, infrastructure, industry and free economic zones, critical raw materials, agribusiness, financial cooperation, small and medium-sized business development, tourism, and investment in real estate and human capital.
