Special program to attract investment in transport and telecommunications developed in Azerbaijan

A special program covering 10 priority areas to attract investment has been developed in Azerbaijan with the aim of improving the transport and telecommunications sectors, in cooperation with an international consulting company, Shahin Babayev, Executive Director of AZCON Holding, said in an interview with Report.

According to him, the implementation of large-scale projects requires close cooperation with international financial institutions, strategic partners, and foreign investors.

"To this end, within the framework of the State Program for 2025–2030 on the Improvement of Transport Infrastructure in the City of Baku and Adjacent Areas, active cooperation has already begun with the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), and the World Bank on the construction of 10 metro stations and the expansion of the infrastructure capacity of Azerbaijan Railways. An agreement has been signed with the AIIB for financing of $180 million under the Baku Metro Expansion Project – Phase I. In addition, an international consulting company has been engaged to support investment efforts, and a special program covering 10 priority areas has been developed to enhance the attractiveness of the investment environment."

Babayev added that the main objective is to attract investors to investment projects:

"Regular meetings are also continuing in the areas of knowledge exchange, human resource management, and the organization of joint training programs for specialists. This process is already being carried out not only through meetings, but also through a structured mechanism of mutual cooperation with holding companies."