AZPROMO: Azerbaijan's strategy to diversify its economy beyond oil

Investment Promotion

The Azerbaijan Export and Investment Promotion Agency (AZPROMO) has established itself as the country's primary instrument for attracting foreign investment and boosting non-oil exports. Founded in 2003, the agency operates as a one-stop shop to facilitate capital inflows and the international expansion of Azerbaijani companies.

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The engine of Azerbaijani economic diversification

La Export and Investment Promotion Agency of Azerbaiyán AZPROMOIt has established itself as the key element in the government's strategy to reduce dependence on the oil sector and strengthen its economy. Founded in 2003 by the Ministerio de Economía, its mission is to actively attract foreign direct investment (FDI) towards non-extractive sectors and stimulate exports of value-added products and services under the umbrella of the country brand «Made in Azerbaiyán».

With a mandate endorsed by the presidential decree of July 23, 2021, AZPROMO It functions as a business facilitator, offering a service of 'one stop shop' to foreign companies interested in the Azerbaijani market. This centralized approach seeks to simplify processes and provide comprehensive support to investors throughout their project cycle, from gathering detailed information on the investment climate to coordinating with various government entities.

A global network serving exporters and investors

The agency's international focus is reflected in its membership in the Asociación Mundial de Agencias de Promoción de Inversiones (WAIPA), where he also holds the position of regional director for Asia CentralThis position gives him a privileged global visibility and network of contacts. AZPROMO It leverages its extensive network of representatives and partners abroad to organize international events, inform potential buyers about Azerbaijan's offerings, and connect local businesses with business opportunities abroad.

Among the key services it offers to exporters and investors are conducting market research to identify potential markets, providing information on import regulations in destination countries, and facilitating dialogue between the private sector and public institutions. The ultimate goal, according to the agency itself, is "to make the non-oil sector the top priority of the economy, increase its share of GDP, and expand export volumes."

Strategic Area	Key Services and Objectives
Promotion of Non-Oil Exports	International market analysis, information on import regulations, connection with foreign buyers and promotion of the "Made in" brand Azerbaiyán«.
Attracting Foreign Investment	One-stop shop service, information on the investment climate, support in coordination with public bodies and promotion of investment in diversified private sectors.
Business Cooperation	Organization of large-scale networking events both in Azerbaiyán as well as abroad to expand collaboration between local and foreign companies.

The focus of AZPROMO It draws on solid experience accumulated over more than two decades and modern corporate management. The agency emphasizes its deep knowledge of foreign markets and the trade regulations that govern them as one of its main competitive advantages for guiding companies through their internationalization process.

Key points and frequently asked questions about the strategy of Azerbaiyán

Because it is Azerbaiyán a market of interest to Spanish companies?

The proactive economic diversification strategy of Azerbaiyán This opens up significant opportunities in sectors other than energy, such as agriculture, manufacturing, technology, and tourism. For Spanish companies, this represents a gateway to an emerging market in the Caucasus that is actively seeking foreign partners and investors to develop new value chains.

What specific support can a Spanish investor receive from AZPROMO?

A Spanish investor can benefit from the 'one-stop shop' service of AZPROMOThis includes personalized assistance in understanding the legal and regulatory framework, access to market data, help in identifying local partners, and seamless coordination with government authorities, thereby reducing bureaucratic barriers and streamlining project implementation.

What role does the "Made in" brand play? Azerbaiyán» in foreign trade?

The brand «Made in Azerbaiyán"is a government initiative, driven by AZPROMOto position the country's non-oil products in international markets. The goal is to associate the brand with quality and competitiveness standards, thereby increasing recognition and demand for Azerbaijani exports beyond its traditional raw materials.