Sahib Alakbarov: $213bn invested in non-oil sector over 20 years

Total investment in Azerbaijan"s non-oil sector over the past two decades has reached $213 billion, Deputy Economy Minister Sahib Alakbarov said.

According to Report, he made the remarks at the opening of the ASAN AI Hub, the artificial intelligence center of the State Agency for Public Service and Social Innovation under the President.

Alakbarov highlighted that the non-oil sector now accounts for 68% of Azerbaijan"s GDP.

He added that doubling non-oil exports over the past six years reflects Azerbaijan"s growing global competitiveness.

Under the Azerbaijan Socio-Economic Development Strategy 2027–2030, approved by a presidential decree, ensuring sustainable and competitive economic growth is identified as one of the country"s five national priorities. Accelerating the transition to a digital economy and adopting new technologies is a key strategic objective, he said.

The deputy minister noted that the Digital Economy Development Strategy, prepared under this framework, is in its final approval stage and aims to accelerate Azerbaijan"s digital transformation.

"The strategy, which covers more than 50 initiatives and projects, focuses on technological business transformation, developing a competitive workforce, and shifting governance to data-driven models. The AI Strategy approved this year prioritises the responsible and ethical use of artificial intelligence while ensuring sustainable economic development in this field," Alakbarov added.