Iranian investments in Azerbaijan surge since almost decade

Azernews.Az

24 February 2025 10:00 (UTC+04:00)

Qabil Ashirov

The EDB analysts noted that since 2017, the "Khazar" automobile production project has been operational in Azerbaijan's Neftchala district. The "AzKron" automobile plant is owned by the "Azevrocar" joint venture, which is 75% owned by the "AzerMash" group. The remaining quarter is held by "Iran Khodro," Iran's largest automobile company. Additionally, the EDB stated that by 2022, the cumulative volume of Azerbaijan's direct foreign investments in Iran reached $3.3 million. By the first half of 2024, this volume had risen to $8.3 million.

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