BAKU, Azerbaijan, June 19. Azerbaijan's non-oil sector has become the country's primary engine of investment attractiveness and economic growth, Economy Minister Mikayil Jabbarov said on Thursday, highlighting efforts to diversify the economy beyond hydrocarbons, Trend's correspondent reports from the event.
Speaking at a press conference following the 2026 Annual Meetings of the Islamic Development Bank (IsDB) Group in Baku, Jabbarov said Azerbaijan used the event to showcase its investment potential to international financial institutions, investors and business leaders.
As part of the meetings, Azerbaijan hosted the "Azerbaijan Investment Outlook" session, where officials presented the country's economic priorities and investment opportunities. Jabbarov said the presentation was based on strategic objectives outlined in Azerbaijan's national development agenda.
According to the minister, the non-oil economy has been the main driver of growth over the past five to six years, reflecting the government's long-term efforts to diversify economic activity.
He identified several sectors offering significant investment opportunities, including non-oil industrial production, mining and critical minerals, agriculture and agro-processing, as well as transport and logistics.
Jabbarov emphasized Azerbaijan's strategic geographic location at the crossroads of major regional trade routes, noting that the government continues to invest in expanding transport infrastructure to strengthen the country's role as a regional connectivity hub.
The minister also highlighted tourism as an increasingly important contributor to investment attractiveness, saying the IsDB meetings provided an opportunity to promote Azerbaijan's tourism potential to an international audience.
In addition, renewable energy, financial services and digitalization have emerged as key cross-sector priorities supporting the country's broader economic transformation, he said.
Jabbarov pointed to several factors underpinning Azerbaijan's investment appeal, including political and macroeconomic stability, a strategic regional position, low public debt levels, substantial foreign exchange reserves and favorable assessments from international rating agencies.
"All this information was shared with international investors, financial institutions and participants," he said, adding that Azerbaijan's private sector is playing an increasingly active role in advancing investment opportunities and supporting economic development.
The comments come as Azerbaijan continues efforts to attract foreign investment into non-oil sectors, a key pillar of its strategy to diversify growth and reduce dependence on hydrocarbon revenues.
