EBRD, EU, AZPROMO help attract foreign investment to Azerbaijan

The European Bank for Reconstruction and Development (EBRD), the European Union (EU) and AZPROMO Export and Investment Promotion Agency of the Republic of Azerbaijan are teaming up to promote foreign direct investment (FDI) in Azerbaijan.

Attracting investors to Azerbaijan’s non-oil sectors and increasing their integration into European value chains are key to further unlocking the country’s economic potential. A five-year national export strategy developed by AZPROMO aims to double the volume of non-oil exports by 2026.

The EBRD and AZPROMO, with financial support from the EU, are developing pitching packs and investment-targeting strategies for up to five priority projects in sectors such as agriculture and fisheries. They will then work to identify investors, especially from European markets.

This initiative includes analysing target markets and investors, training AZPROMO staff in effective pitching and organising roadshow events in priority European markets with a view to securing investment for the five projects.

This is the EBRD’s first technical collaboration with AZPROMO as part of a wider effort to improve the capacity of investment promotion agencies in Eastern Partnership countries, supported by the EU under the EU-EBRD Investment Climate Action Plan. It will support the Eastern Partnership’s agenda for recovery, resilience and reforms, underpinned by the EU Economic and Investment Plan to mobilise investment in Azerbaijan.