00:00There has never been a better time to have such a conference as this one in Azerbaijan
00:05because this country has natural resources like energy, financial resources, they can
00:12acquire technology and can bring peace, progress and prosperity to a region of the world where
00:19there has been a lot of instability.
00:27The first Azerbaijan International Investment Forum held at Seabreeze Resort in Baku showcased
00:32the country's ambition to diversify its economy beyond energy, drawing investors from both
00:37East and West.
00:39That balance was at the heart of the forum's biggest announcements.
00:42We have a very diversified and equal representation both from East and West, which in itself is
00:49a good testimony to how we are viewed.
00:53Two of the main agreements which have been within the framework of the investment forum
00:58are also representative of the largest inward investment in Azerbaijan in the development
01:04of impressive real estate portfolio comes from the East, from friendly United Arab Emirates,
01:13investment of over five billion dollars.
01:17And largest outward investment is an investment by national champion Sokar to acquire Italian
01:25API company consisting of two refineries, several thousand gas stations.
01:33For international investors, Azerbaijan's stability and its use of oil and gas revenues to build
01:38human capital were key signs of confidence.
01:41It is a country that offers, I think, a very strong environment for investment.
01:51It is internally stable, internationally it's in a very favorable context and it's a country
01:59that is investing, that is using the resources coming from natural resources, from oil, gas in order
02:06to develop human capacity, human capital and infrastructure. So in that sense I think it is a country that
02:16is proving quite enlightened in terms of a clear trajectory of economic development.
02:23Energy remains central to the discussion as the country's long-standing role as a regional connector
02:29continues to shape its economic future. We have been able through the energy policy of the leadership of
02:38Azerbaijan to bring into our country more than one hundred forty four billions US dollars investment
02:46to create this energy infrastructure in the past. Now with the modern energy policies we are working on the
02:56important future projects, the projects of interconnectors to connect with Europe, Central Asia.
03:05In Baku, Azerbaijan presented itself as a country determined to evolve. Beyond energy, the conversations
03:12highlighted digital growth, infrastructure and new partnerships, all signs of an economy looking outward
03:18and diversifying its future. Tourism is increasingly important for investment. It is no longer just a industry of
03:26luxury as it was typically and traditionally perceived. Montenegro is a heavily touristic country. Tourism is the
03:34biggest industry in the country and it contributes to overall BDP by 30%. For the host venue the forum was
03:41a live showcase of their own investments but also the opportunity. Azerbaijan is so open for foreign investment.
03:47I think Azerbaijan and the leadership of our dear president has shown that we are a very open economy for
03:53foreign investors that feel very confident here, feel secure and safe and they can prosper together
04:00with our country and help the country get to the next level. Beyond the business deals, the forum was
04:05also about dialogue showing that personal diplomacy and face-to-face exchange still matter in building new
04:11partnerships. Somebody who's been involved with Azerbaijan for a couple of decades, it's the most confident
04:16I've ever sensed Azerbaijan's leaders not only diversifying their economy as a slogan but really
04:23diversifying in sectors but geographies. There's a growing confidence in Azerbaijan and a desire to play a role in
04:30interconnecting and itself in investing in other countries. The Azerbaijan Investment Forum was more than a
04:37showcase, it was a statement of intent. It set out a vision built on connectivity, creativity and diversification.
04:44And while the forum in Baku may have concluded, it's echoes we felt across the region and beyond for years to come.
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