17:48 - 1.10.2024

---

October 1, Fineko/abc.az. Azerbaijan's Minister of Economy Mikayil Jabbarov discussed with a delegation from Saudi Arabia the possibilities of investments in Azerbaijan's industrial parks. The delegation was headed by the  chairman of the Federation of Chambers of Saudi Arabia, Hassan Moejeb Alhwaizi.

ABC.AZ reports that the sides focused on enhancing bilateral investment and trade relations, explored the potential for establishing joint ventures, and discussed the possibility of Saudi investors joining Azerbaijan's industrial parks.

The presence of a favorable environment for investors in Azerbaijan was emphasized, and the importance of the project implemented in Azerbaijan by the Saudi company ACWA Power in the field of alternative and renewable energy was noted.

It was stressed that the Azerbaijan-Saudi Arabia Joint Business Council is an effective mechanism for realizing opportunities to expand investment cooperation and increase bilateral trade turnover.

It was underscored the significance of joint efforts in diversifying our economies and promoting sustainable development.

The sides discussed issues of encouraging bilateral investments and trade relations, the creation of joint ventures, and the possibility of investors from Saudi Arabia participating as residents in industrial parks in Azerbaijan.