Azerbaijan promotes development through private investment

Azerbaijan is promoting development through private investment, Ulvi Mansurov, Chairman of the Board of the Azerbaijan Business Development Fund under the Economy Ministry, said.

Report informs that he made the remarks at the Arab Coordination Group (ACG) Private Sector Session held in Baku as part of the 51st Annual Meeting of the Islamic Development Bank (IsDB) Group.

According to him, the efforts of governments and financial institutions alone are not enough to achieve sustainable development.

"Achieving this goal requires strong partnerships between governments and financial institutions, as well as sovereign investors and the private sector. Today, the private sector is not merely a beneficiary of development, but has become one of its main driving forces. It creates new jobs, promotes innovation, increases productivity and contributes to building resilient economies," Mansurov said.

He noted that every successful economy is built not only on public investment, but also on the ability of entrepreneurs and businesses to turn ideas into real opportunities.

"The scale of opportunities in areas such as infrastructure and energy, food security, digital transformation and climate resilience requires major investment. This is not a burden that one institution can carry alone. Azerbaijan is fully committed to this approach," he said.

Mansurov added that the discussions to be held at the session were not only about projects and financing mechanisms.

"These discussions are aimed at bringing together parties that drive development through entrepreneurship, innovation and private investment," he said.