Azerbaijan signs deals totaling $5.5 bln on first day of Baku investment forum

BAKU. Sept 22 (Interfax) - Azerbaijan signed $5.5 billion of deals with foreign partners on the first day of the Azerbaijan International Investment Forum (AIIF 2025), Azerbaijani Economy Minister Mikayil Jabbarov told journalists.

He said that four agreements had been signed with the Saudi ACWA Power on the implementation of a project to build a seawater desalination plant in Azerbaijan, with investments totaling $407 million.

Azerbaijan also signed agreements with Germany's MAN Truck&Bus on the assembly of electric buses, as well as a memorandum of understanding with China's DATANG Overseas Investment Co. on founding a "Green Industrial Park" in Azerbaijan. The minister did not disclose the planned investments for these projects.

The country also inked partnership agreements with UAE company Modon on the development of a "city within a city" project and with the International Finance Corporation (IFC) on increasing the potential for partnerships between state and private sectors.

AIIF 2025 is taking place in Baku on September 22 and 23. Jabbarov said that there were plans to sign several more documents on the second day.