Best of the best choose Azerbaijan: What did Davos show?

During his participation in the World Economic Forum, President of Azerbaijan Ilham Aliyev held a large number of meetings with leaders of other states, politicians and representatives of influential business circles. The meetings were held at the request of other parties, meaning that our country was not the initiator. This is a very important point, indicating a great interest in cooperation with Azerbaijan.

The World Economic Forum (WEF) report "Impact Report: Centre for the Fourth Industrial Revolution Network 2023-2024" (Impact Report: Centre for the Fourth Industrial Revolution Network 2023-2024) noted that Azerbaijan is striving to take a competitive place in a rapidly changing global landscape, where digital transformation is becoming a key driver of economic growth. The report highlights the country's achievements in terms of developing investment attractiveness.

In 2024, Azerbaijan entered the top seven investment-friendly countries, according to a report by the International Monetary Fund (IMF). According to the Fund, our country is one of the leaders among the countries with the largest and most developed investment potential.

Last year, the FDI Intelligence publication, part of the Financial Times group, published a ranking of the TOP 10 most promising countries for investment, in which Azerbaijan ranked 7th. It was noted that the key factors distinguishing the countries included in the TOP 10 are economic stability, a favorable investment climate created by legislation that regularly adapts to global trends, as well as the development of the alternative energy sector.

In 2023, FDI Intelligence placed Baku in third place in the ranking of the TOP 100 cities with the largest volume of foreign direct investment.

Such assessments are not ignored by Azerbaijan's largest companies and influential business circles.

Carlsberg Group

Among the meetings held in Davos by the President of Azerbaijan was a meeting with Chairman of the Supervisory Board of Carlsberg Group Henrik Poulsen and Chief Executive Officer of the company Jakob Aarup-Andersen. Mr. Poulsen expressed satisfaction with the investment climate in our country, highly appreciated the framework provided by Azerbaijan to foreign investors, especially in the field of property rights protection, and expressed gratitude to President Ilham Aliyev for the conditions created. Ilham Aliyev was informed about Carlsberg Group's plans to increase the localization level of products produced in the country and expand the company's activities in Azerbaijan.

Carlsberg Group was founded in 1847 and is currently one of the world's largest beer producers. Its headquarters are located in Copenhagen, and factories are located in Western Europe, Central and Eastern Europe and Asia. The company's portfolio includes 140 brands that are purchased in more than 150 countries around the world.

Carlsberg has been working in Azerbaijan for a long time. In 2008, Khirdalan Brewery became part of the Carlsberg Group under the name Carlsberg Azerbaijan. The Danish company not only produces beer, but also participates as a partner in Azerbaijan in various companies related to environmental protection, in particular regarding the Caspian Sea. It is also worth noting that in 1920, with financial support from Carlsberg, the famous Danish theoretical physicist Niels Bohr founded the Institute of Theoretical Physics at the University of Copenhagen, which became one of the centers of atomic physics and quantum mechanics in the 1920s and 1930s. The famous physicist was also given a house originally built for the Carlsberg founder. Such facts are very positive characteristics of a company that follows enduring values in its activities.

In 2019, in order to localize raw materials for brewing, Carlsberg Azerbaijan and AzerSheker initiated a pilot project for the cultivation of malting barley in Azerbaijan. A year later, barley was sown on an area of 70 hectares in Shamkir district, which made it possible to start producing products from local raw materials in 2021.

DP World

On the same day, the Azerbaijani leader met with Sultan Ahmed bin Sulayem, Chairman and CEO of DP World Group of Companies. The prospects of DP World's activities in our country, the opportunities created by the North-South and East-West transport corridors were discussed. The role of Azerbaijan as a regional transport hub was emphasized, and possible areas of cooperation were considered.

DP World (Dubai Port World) is one of the world's largest port operators and is consistently included in the relevant global ratings. The company operates about 80 marine terminals and the largest industrial park in the world, the Jebel Ali Free Zone (JAFZA). DP World was founded in 1972 as a local port operator in Dubai and has grown today to a global logistics service provider with 150 businesses on 6 continents. The company started with one port, the Rashid Port in Dubai. In 1979, the port of Jebel Ali was opened, which today provides almost 24 percent of Dubai's GDP.

In 2016, the company and Azerbaijan signed an agreement according to which the Dubai giant today plays an important role in the development of the Alat Free Economic Zone. In May, 1918, at a meeting with the President of Azerbaijan, Sultan Ahmed Bin Sulayem noted that the Alat Free Economic Zone and the Baku International Trade Port are key assets in developing Azerbaijan's ambitions in terms of logistics, helping the country to become a center of trade between Europe, China and other countries.

The Goldman Sachs Group Inc.

President Ilham Aliyev also met with Jared Cohen, President of The Goldman Sachs Group Inc. for Global Affairs, based on an appeal from the opposite side. The parties discussed the broad current state and prospects for the development of cooperation between Azerbaijan and The Goldman Sachs Group Inc., which began in 2010. Thus, the American company is successfully partnering with the State Oil Fund in terms of developing the country's financial sector and expanding its international investment opportunities. According to Cohen, the company is very interested in the economic processes taking place in the region.

Note that The Goldman Sachs Group Inc. It is one of the largest investment banks in the world, a financial conglomerate. Since 2011, it has been one of the globally systemically important banks. Since 2013, it has been included in the Dow Jones Industrial Average.

The company has a rich history. It was founded in 1869 by a schoolteacher from Bavaria, and in the 60-70s of the last century it consolidated its role as an influential financial institution. According to the company's management, since its foundation, Goldman Sachs has been the dominant force in the financial world.

All of these companies, as well as many others working with Azerbaijan, have consistently expressed interest in continuing cooperation, as they have a reliable partner in our country who knows how to take bold steps. And the favorable investment climate, which is strengthening from year to year, is the best ground for the growth of new initiatives that benefit both Azerbaijan and those who deal with it.

The meetings held by President Ilham Aliyev on the sidelines of the World Economic Forum in Davos were another demonstration of how interesting and in demand Azerbaijan is.