BAKU, Azerbaijan, June 17. The private sector
is now a central driver of economic growth rather than merely a
beneficiary of development, this was stated by Ulvi Mansurov,
Chairman of the Board of the Azerbaijan Business Development Fund,
during a meeting of the Arab Coordination Group (ACG) Private
Sector Forum 2026 of the Annual Meeting of the IsDB Group in Baku,
Trend's
correspondent reports from the event.
He said the private sector plays a crucial role in creating
jobs, driving innovation, improving productivity, and supporting
the development of sustainable economies.
“The private sector is no longer simply a beneficiary of
development. It is a driver of development,” Mansurov said, adding
that successful economies rely not only on public investment but
also on entrepreneurship and the ability of businesses to turn
ideas into opportunities.
He noted that emerging investment needs across infrastructure,
energy, food security, digital transformation, and climate
resilience require levels of financing that cannot be met by any
single institution alone.
Mansurov said Azerbaijan is committed to strengthening
cooperation with the Arab Coordination Group and its member
institutions, which he said have long demonstrated the value of
coordinated development financing through resource mobilization and
knowledge sharing.
He called for expanded co-financing, greater innovation,
increased cross-border investment, and deeper partnerships aimed at
delivering tangible economic and social results.
