00:00There's 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,
00:12they can acquire technology and can bring peace, progress and prosperity
00:17to a region of the world where there's been a lot of instability.
00:20The first Azerbaijan International Investment Forum held at Seabreeze Resort in Baku
00:31showcased the country's ambition to diversify its economy beyond energy,
00:36drawing investors from both east 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,
00:48which in itself is a good testimony to how we are viewed.
00:53Two of the main agreements which have been within the framework of the investment forum
00:57are also representative of the largest inward investment in Azerbaijan
01:02in the development of an impressive real estate portfolio comes from the east,
01:09from friendly United Arab Emirates, investment of over 5 billion dollars
01:17and largest outward investment is an investment by national champion Sokar
01:22to acquire Italian API company consisting of two refineries, several thousand gas stations.
01:33For international investors, Azerbaijan's stability and its use of oil and gas revenues
01:38to build human capital were key signs of confidence.
01:41It is a country that offers, I think, a very strong environment for investment.
01:49It is internally stable, internationally it's in a very favorable context and it's a country
01:58that 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.
02:11So in that sense I think it is a country that is 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 continues to shape its economic future.
02:30We have been able through the energy policy of the leadership of Azerbaijan to bring into our country more than 144 billion US dollars investment to create this energy infrastructure in the past.
02:50Now with the modern energy policies we are working on the important future projects, the projects of interconnectors to connect with Europe, Central Asia.
03:05In Baku, Azerbaijan presented itself as a country determined to evolve.
03:10Beyond energy, the conversations highlighted digital growth, infrastructure and new partnerships, all signs of an economy looking outward and diversifying its future.
03:19Tourism is increasingly important for investment. It is no longer just an industry of luxury as it was typically and traditionally perceived.
03:30Montenegro is a heavily touristic country. Tourism is the biggest industry in the country and it contributes to overall BDP by 30 percent.
03:39For the host venue, the forum was a live showcase of their own investments but also the opportunity.
03:44Azerbaijan is so open for foreign investment. I think Azerbaijan and the leadership of our dear president has shown that we are a very open economy for foreign investors that feel very confident here, feel secure and safe and they can prosper together with our country and help the country get to the next level.
04:03Beyond the business deals, the forum was also about dialogue showing that personal diplomacy and face-to-face exchange still matter in building new partnerships.
04:11Somebody who has been involved with Azerbaijan for a couple of decades, it is the most confident I have ever sensed Azerbaijan's leaders not only diversifying their economy as a slogan but really diversifying in sectors and geographies.
04:26There is a growing confidence in Azerbaijan and a desire to play a role in interconnecting and itself in investing in other countries.
04:34The Azerbaijan investment forum was more than a showcase. 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.
04:51For years to come.
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