BAKU, Azerbaijan, September 26. The World
Economic Forum (WEF) will begin cooperation with the Azerbaijan
Export and Investment Promotion Agency (AZPROMO) within the
framework of the Star FDI initiative, WEF Head of Digital Trade and
Artificial Intelligence Khalid Alaamer told Trend on Saturday on the
sidelines of the second Azerbaijan International Investment Forum
in Baku.


Speaking about the WEF's new Star FDI initiative (Sustainable,
Trusted, Agile and Responsible FDI), Alaamer noted that it aims to
study best practices in implementing foreign direct investment
(FDI) projects that go beyond simple capital investment.


According to him, the initiative also focuses on examining
conditions needed to create jobs, improve local workforce skills,
build partnerships with local communities and contribute to
economic development.


"We have only recently launched this initiative, and in the near
future we will also work with Azerbaijan and AZPROMO," he said.


Alaamer noted that WEF's cooperation with Azerbaijan is carried
out, in particular, through AZPROMO, while interaction with ASCO
has also recently begun.


"We worked with them on one of our first country projects on
promoting investment in the digital economy. This was in 2024, and
Azerbaijan became one of the first countries to voluntarily join
this project," he said.


Alaamer said the project examined existing challenges and
opportunities, while also creating a stakeholder community in the
digital economy to identify policy and regulatory priorities that
the government can use to attract investment in the sector.







Asked about the steps needed for Azerbaijan to align digital
trade and artificial intelligence mechanisms with international
standards and develop cross-border digital trade, Alaamer said the
country was already moving in the right direction.


"I think the country is already moving in the right direction.
The launch of this project itself is already a major step," he
said.


According to him, the first step is understanding market
needs.


"First is listening to the market, and Azerbaijan did this quite
well within the 2024 digital economy investment project. The
country demonstrated strong leadership by voluntarily joining this
project and listening to foreign and domestic investors to
understand what policies and opportunities they need in the digital
economy," Alaamer said.


He also stressed the importance of demonstrating progress and
momentum.


"Investors want to see not only ambitions, but also real
achievements on the way to implementing them. Growth in key
indicators and Azerbaijan's positions in various rankings over the
past few years is a positive signal. Finally, it is necessary to
think regionally. Azerbaijan demonstrates significant leadership in
the South Caucasus and can become a hub for digital investment and
the intelligent economy in the region," he said.