IsDB сhairman сalls Azerbaijan an example of rapid transformation

Baku and Azerbaijan serve as a clear example of large-scale transformation, sustainable progress, and the ability to move forward without dwelling on the past, Muhammad Al Jasser, Chairman of the Islamic Development Bank (IsDB) Group, said during the Group's annual meetings being held in Baku.

"Well, the Soviet era is behind us. Today, the owners of this land are its citizens, and it is they who must build the country for the benefit of future generations. I am convinced that Azerbaijan, embodied by Baku, which everyone present in this hall has had the opportunity to see, convincingly demonstrates that the drive for development here is truly immense," Al Jasser said.

The IsDB Group chairman noted that his engagement with Azerbaijan began when he served as an Executive Director at the International Monetary Fund (IMF), at a time when Azerbaijan and other CIS countries were only beginning to apply for membership in the organization.

"On behalf of the Government of Saudi Arabia, I actively participated in facilitating the accession process of these countries, including Azerbaijan. Since then, and later in my capacity as a governor, I have visited the country during previous annual meetings that we held in this city. Looking back, one does not need to be an economist or an experienced analyst to see how dramatically this city has been transformed," he added.

Al Jasser emphasized that Baku and Azerbaijan as a whole represent a true crossroads of civilizations, connecting south with north and east with west.

"It has clearly demonstrated that development is impossible in isolation. Strong ties with neighboring countries must be built. When I visited here in May, I toured the free economic zone and the cargo airport. This cargo airport was purposefully built to facilitate the country's export-import operations-a task that is usually addressed through access to the sea. Yet they do not stop there. They act decisively and turn their plans into reality.

All of this symbolizes numerous achievements, depending on the perspective from which one views them. And the most appropriate perspective is undoubtedly that of development. I believe that this country and this city stand on the threshold of a genuine economic rise. And one does not need to look far for proof: it is enough to walk along any street near the conference center or hotels to see that something truly constructive is taking place here," the IsDB Group chairman concluded.