BAKU, Azerbaijan, January 23. Cooperation with BlackRock opens new opportunities for Azerbaijan's digital, infrastructure, and energy transformation, the famous Azerbaijani economic expert, Ingilab Ahmadov, told Trend.
He made the remark commenting on the signing of a protocol on strategic cooperation between the State Oil Fund of Azerbaijan (SOFAZ), BlackRock, the world's largest asset management company, and its affiliated structure Global Infrastructure Partners (GIP) with planned investments of up to $1.5 billion in infrastructure and digital projects.
The expert said that this fully aligns with Azerbaijan's priorities, which are outlined in all strategic documents.
According to him, the tasks related to digitalization, the development of artificial intelligence, and all related fields fully correspond to the priorities of this cooperation.
"Therefore, such cooperation is to some extent expected and is very promising. It is symbolic that this priority is enshrined in the memorandum of understanding with BlackRock.
Azerbaijan began working with this company last year. In October, the first assets of SOFAZ were invested in Gatwick Airport in the UK for 50 million pounds through BlackRock and its affiliated company, Digital Infrastructure Platform (DIP). The project was successful, and this year the relationship was formalized as strategic, with the goal of investing through this fund in various promising projects, including the development of artificial intelligence and automation," said Ahmadov.
He noted that the planned investment amount of up to $1.5 billion is significant.
According to the expert, such large investments are not only economically advantageous but also reflect the political-economic and geopolitical aspects.
"Today, Azerbaijan is successfully utilizing these favorable conditions," he noted.
"Cooperation in the field of airport infrastructure and asset management is considered a priority, as it can significantly impact the modernization of the transport sector and Azerbaijan's integration into global logistical infrastructure chains.
Similar to digital projects, investments and partnerships in transport infrastructure align with the country's national priorities and strategic goals, including the development of the Middle Corridor, the Alat Port, the East-West Corridor, and the Zangezur Corridor, which have global significance. Such interaction allows for increased transportation efficiency, improved service quality, and strengthens Azerbaijan's role as a key transit hub between Europe and Asia," he added.
Ahmadov highlighted that the first joint project with BlackRock at Gatwick Airport was successful and confirmed the correctness of the chosen approach to investments and partnership.
"Working with the largest international investment company, whose assets exceed $14 trillion, has not only commercial but also geopolitical significance. This strengthens Azerbaijan's reputation as a key player in the region," he emphasized.
The expert said that due to the global energy transition, more attention is being paid to renewable energy projects, including large regional initiatives. Azerbaijan sets ambitious goals: connecting through the Caspian Sea, the Black Sea, and underwater cables to Europe.
"Cooperation with BlackRock opens up opportunities for joint investments in renewable energy, transit energy, and infrastructure beyond the traditional oil and gas sector. This direction is profitable both from a commercial standpoint and in terms of prestige, as it helps achieve energy transition goals. Today, investments in renewable energy worldwide already surpass those in traditional oil and gas, creating new opportunities for Azerbaijan," concluded Ahmadov.
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