Azerbaijan says contracts worth $10.8 billion were agreed at its 2026 international investment forum, as Baku seeks to attract capital into infrastructure, technology, transport, tourism and industries beyond oil and gas.
The figure was announced by Economy Minister Mikayil Jabbarov during the final day of the two-day Azerbaijan International Investment Forum. According to the minister, 26 contracts covered sectors including artificial intelligence, energy, manufacturing and production.
The agreements are prospective business commitments rather than evidence that all the money has already been invested. Their longer-term importance will depend on whether the projects secure financing, receive approvals and move into implementation.
Azerbaijan investment forum produces $10.8 billion in agreements
The 2026 forum represents Azerbaijan’s latest effort to position itself as an investment destination connecting the South Caucasus, Central Asia, Türkiye and European markets.
International investment managers attending the event included BlackRock, Global Infrastructure Partners and Brookfield Asset Management. Azerbaijan’s presidential administration said organisations represented at the forum and at the parallel Azerbaijan Infrastructure Investment Dialogue collectively managed about $30 trillion in assets.
The event follows the inaugural forum in 2025, where more than $10 billion in investment agreements were reported. More than $7 billion of that earlier figure was linked to sectors outside oil and gas, according to information presented at this year’s gathering.
Beyond oil and gas: Azerbaijan’s diversification strategy
Energy remains central to Azerbaijan’s economy and investment proposition, but the government is also highlighting a broader range of opportunities. President Ilham Aliyev said the non-oil sector accounted for 72% of gross domestic product in 2025 and that real non-oil GDP growth had averaged 5% annually since 2020.
The sectors promoted at the forum included:
- Transport, logistics and infrastructure
- Renewable energy and energy-related projects
- Digital technologies and artificial intelligence
- Manufacturing and industrial production
- Agriculture and food-related activity
- Tourism, hospitality and property development
These priorities reflect a wider policy challenge: converting Azerbaijan’s energy revenues and strategic location into a more diverse economy capable of attracting international capital over the long term.
Foreign investment and infrastructure take centre stage
Infrastructure was a major focus of the closed-door dialogue hosted by Azerbaijan’s sovereign wealth fund, SOFAZ, and BlackRock. Discussions covered potential opportunities in transport corridors, ports, railways, renewable power and digital infrastructure.
Figures from the Central Bank of Azerbaijan showed that foreign direct investment attracted during the first six months of 2026 exceeded $3 billion, an increase of 13.8% compared with the same period a year earlier. The main investor countries listed by the bank were the United Kingdom, Türkiye, Cyprus, Russia and Iran.
Azerbaijan is also investing abroad. The central bank reported that capital exported by Azerbaijani businesses during the same period exceeded $5 billion, with Italy, Türkiye, the United Kingdom, the United Arab Emirates and Georgia among the principal destinations.
Tourism and property are part of Baku’s international pitch
Tourism, hospitality and urban development were presented as additional ways to broaden the country’s economic base. The Sea Breeze development on the Caspian coast was highlighted as an example of a large-scale project seeking international participation.
Representatives of the project said companies from several countries were involved in delivering parts of its wider master plan. The Azerbaijan Tourism Board also pointed to a new state programme intended to support both demand and supply in the tourism sector.
Baku is being promoted as an international meeting and events hub, while coastal developments and hospitality projects are intended to make Azerbaijan more attractive to overseas visitors and investors. Whether these ambitions translate into sustained tourism growth will depend on delivery, infrastructure and international demand.
What happens after the investment announcements?
The $10.8 billion figure announced in Baku should be treated as a headline value for signed agreements, not as a completed investment total. Projects typically require additional due diligence, financing arrangements, regulatory permissions, construction plans and commercial commitments before capital is deployed.
The next indicators to watch include:
- Whether the 26 agreements progress to funded projects
- Which sectors receive the largest share of capital
- Whether infrastructure commitments move into construction
- How much investment reaches non-oil industries
- Whether foreign direct investment continues to rise
For European businesses and investors, Azerbaijan’s strategy is relevant because the country is presenting itself as a platform between European markets, Türkiye, Central Asia and the wider South Caucasus. Its success will depend not only on the scale of announced deals, but also on transparency, governance, project execution and the stability of cross-border commercial relationships.
Why the forum matters for Europe
Azerbaijan is not an EU member state, and the agreements announced at the forum are national investment developments rather than European Union decisions. However, the country’s location gives its infrastructure, energy and transport plans wider regional significance.
Projects involving ports, rail links, logistics, renewable energy and data infrastructure could affect commercial connections between Europe and markets further east. The forum therefore forms part of broader European affairs involving supply-chain resilience, regional connectivity and access to alternative investment destinations.
For now, the central question is implementation. Azerbaijan has secured substantial international attention and reported billions of dollars in agreements. The durability of that investment story will be measured by the projects that reach financial close, construction and operation.
Takeaway: The Azerbaijan investment forum has produced agreements valued at $10.8 billion, strengthening Baku’s effort to attract capital beyond energy. The next stage is turning those commitments into completed projects across infrastructure, technology, manufacturing, tourism and renewable energy.
