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Economist: Davos to have positive effect on attracting investment in Azerbaijan

16 January 2024 19:47 (UTC+04:00)
Economist: Davos to have positive effect on attracting investment in Azerbaijan
Qabil Ashirov
Qabil Ashirov
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Once again the elites of the world, from politics to art, come together in Davos, a popular ski resort high in the Swiss Alps, to discuss the future direction of life on the earth. The 54th annual meeting of the World Economic Forum (WEF) commenced under the motto “Rebuilding Trust” on January 15. WEF is aiming to discuss “the basic principles of trust” – transparency, coherence and responsibility.

As is known, the World Economic Forum has been held in Davos annually since 1971 and the resort’s name even became the common shorthand for the event. Generally, the Forum lasts one week and during this period the tiny settlement in the Alps becomes the center of attention. The Forum is often criticized as a talking shop for the world’s privileged 1 percent trying to lobby and influence powerful elites to affect change on a global scale. Typically, the US president, leaders of the EU, the UN, and also business leaders and entrepreneurs, prominent thinkers and academics, heads of NGOs and the charity sector, innovators, the media, civil society, activists of all creeds, and even the occasional celebrity attend the Forum. It is also where companies - and even countries and regions - set up their stalls to sell concepts and services, or attract investment.

This year the Forum is organized against the backdrop of military confrontations such as the Ukrainian war, the Israel-Hamas conflict, the crisis in the Red Sea, the firing of missiles at the US bases in the North of Iraq by Iran, and the threat of negative impact of the said conflicts on the global economy is the main concern of the forum.

The event will see quite a few countries’ presidents take part, including France’s Emmanuel Macron, Israel’s Isaac Herzog and Ukraine’s Volodymyr Zelenskyy, Chinese Premier Li Qiang and European President Ursula von der Leyen, plus a host of others, are also expected to attend.

Like all countries in the world, Azerbaijan attaches great importance to the Forum and takes part in it since 1992, when the country got its independence. This year a delegation from Azerbaijan, led by the Economy Minister Mikayil Jabbarov, is participating at the Forum. The Delegation left Baku for Davos on January 15.

Speaking to Azernews on the issue, Natig Jafarly said that the Davos Economic Forum is one of the most influential economic forums in the world, and perhaps the first. He pointed out that good relations have been formed between Azerbaijan and the Forum for a long time. He recalled that even the late president Heydar Aliyev visited Davos many times.

“The current president, Ilham Aliyev, has also visited Davos many times, and made speeches at the forum, and these speeches were received with great interest. In the Davos economic forum, the economic prospects of the world in the near future are discussed and problems are put on the table, the expert said.

N.Jafarly also talked about the issues raised by Azerbaijan in Davos.

"This year's two issues step out at the Forum and they are artificial intelligence and security. In both issues, Azerbaijan has its own position and has a say and opportunities to participate. Therefore, the participation of the Azerbaijani delegation in Davos will have a positive effect on increasing interest in Azerbaijan, looking for ways to attract investments, and holding meetings.

In any case, participation in a prestigious forum like Davos is an important step in the name of Azerbaijan and in terms of increasing interest in Azerbaijan,” economist Natig Jafarly said.


Qabil Ashirov is AzerNews’ staff journalist, follow him on Twitter: @g_Ashirov

Follow us on Twitter @AzerNewsAz

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