BAKU, Azerbaijan, September 26. Agreements exceeding $10 billion in potential investments have already been signed within the framework of the 2nd Azerbaijan International Investment Forum (AIIF 2026), Assistant to the President of Azerbaijan and Head of the Department for Economic Issues and Innovative Development Policy of the Presidential Administration, Shahmar Movsumov, told reporters on the sidelines of the forum.
He noted that representatives from major investment funds from various countries around the world are participating in the forum.
"Collectively, they manage assets exceeding $30 trillion. Naturally, these institutions are exploring all possible options for investing in Azerbaijan. We are very hopeful that this forum will lead to the emergence of concrete projects and the realization of investments.
At the same time, groundwork has been laid for even larger projects, particularly in the areas of digitalization and transformation," the Presidential Assistant noted.
Movsumov emphasized that the country's energy potential is a significant advantage for the development of data centers in Azerbaijan.
"Azerbaijan's advantage lies precisely in the fact that we possess abundant, affordable, and—potentially in the future—green energy. Today, President Ilham Aliyev also announced the existence of vast energy potential in Azerbaijan's renewable electricity sector," he stated.
Responding to a question regarding the draft state budget for 2027 and the reduction in the volume of transfers from the Oil Fund to the state budget, Sh. Movsumov noted that the budget continues to grow.
"Budget growth is continuing; as you can see, the budget isn't shrinking. Within the budget framework, transfers from the Oil Fund are decreasing to some extent. This indicates that Azerbaijan is managing its oil resources in a more long-term and sustainable manner. However, the programs will continue," he noted.
According to Movsumov, the growth in the Oil Fund's assets is a positive indicator.
"The growth of our reserves is one of the indicators demonstrating Azerbaijan's status as a reliable partner and the resilience of its economy. This increase in reserves is a very positive development. However, this does not mean that we are not utilizing oil revenues. A transfer of $7 billion from the Oil Fund to the state budget is envisaged for the coming year. This is a substantial amount," the President's aide explained.
He pointed out that in recent years, the government has established numerous incentive mechanisms to support the development of the non-oil sector.
"The ultimate goal of all these measures is to develop Azerbaijan's non-oil sector. Most of these instruments are financed by the state budget and are directed not at specific projects, but rather at implementing incentives to foster the sector's development. That’s the key new aspect," Movsumov stressed.
According to him, investments within the framework of the budget will continue as before.
"Investments within the budget framework are not decreasing; they are continuing as planned. Funds are being allocated for investments in relevant sectors, infrastructure projects, the mining industry, and agriculture. At the same time, the plan involves directing a portion of the funds toward incentives—meaning the use of specific incentive tools to foster private sector development rather than funding projects directly," added Movsumov.
