In this episode of Azerbaijan Diary, Ulvi Mansurov discusses Azerbaijan Investment Company’s role in driving industrial growth, attracting foreign investment, and supporting economic diversification.
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00:00I enjoy when I see the project from the scratch.
00:06You're getting involved in every, every step and action there.
00:10As a shareholder, as a partner, I believe all my team, all my Azerbaijani-competent team
00:14enjoys that.
00:20We invested in different projects in Azerbaijan, mainly in 23 projects in the country.
00:27And 19 out of it, this is the plants and factories and production units, and total investment
00:33of our company was around $170 million.
00:37And the total value of the projects where we invested this money was around $1 billion.
00:42Within this $1 billion, we also had $280 million of foreign direct investment.
00:47It's not only about financial side, we also, as a contribution, we do make sure that we
00:52find the right projects, right partners, to ensure the technology transfer to the country.
00:57We have defined some priority industries and sectors where we would like to invest, but
01:02we are not limited with that.
01:05These are green energy, of course, green project.
01:08These are pharmaceutical, food processing, and some manufacturing, some heavy manufacturing.
01:13We also invested in the project with our partner, Diamet Group, which is a producer of pharmaceutical
01:19products.
01:20And we've invested and built two plants, one of them is disposable syringes, another
01:25one is intravenous infusions.
01:28And these two plants together, these were our first plants in the pharmaceutical area,
01:32and the third one was a Turkish company we are now under construction.
01:35In every project, the Azerbaijan Investment Company strives to ensure that the employment
01:40matter will be in the center of the project.
01:42In our, in the last four and a half years, we made sure that when all these projects
01:47will be operational, we will have 2,300 people employed in these projects.
01:53We believe that will have central role in non-oil economic development of the country.
02:00And in future, we expect that there will be more funds, investment funds, either state
02:06owned or private owned in the country, because we see the potential in that, and these kind
02:11of companies, investment funds, can bring much more benefits to the economy development
02:16than any other business, I believe.
02:28Azerbaijan Investment Company is here to support the projects, the ideas of our partners.
02:35We're ready to share the risks to, especially to our foreign partners, to show the market,
02:41to explain how it works, to minimize and mitigate the risks in here in Azerbaijan, not only
02:46for local and Azerbaijani business, but also for the region, and come to Azerbaijan and
02:50invest together with Azerbaijan Investment Company, because we're here for you.