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.
