Work is underway to attract Italian technology companies to Azerbaijan and the wider region, founder and CEO of FSI (Fondo Strategico Italiano) Maurizio Tamagnini said during his speech at the 2nd Azerbaijan International Investment Forum (AIIF 2026) held in Baku, APA-Economics reports.
Maurizio Tamagnini noted that FSI has been cooperating with the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for a long time. According to him, the parties are seeking to expand economic ties beyond the traditional model of “Azerbaijan exports gas to Italy, while Azerbaijan invests in Italy.”
He said one of the goals is to bring the technology and expertise of Italian companies to Azerbaijan, thereby creating closer economic ties between Azerbaijan and Central Asia on the one hand and continental Europe on the other.
According to Maurizio Tamagnini, a large Italian business delegation visited Azerbaijan in February last year as part of efforts in this direction. The companies represented in the delegation had a combined market capitalization of more than 100 billion and employ around 300,000 people in total.
He noted that a number of major Italian companies are already operating in Azerbaijan and emphasized that there is potential to bring more Italian technology companies to the country.
In his speech, Maurizio Tamagnini also touched upon Azerbaijan’s macroeconomic indicators. In particular, he positively assessed the low level of the country’s public debt-to-GDP ratio.
“I wish most Western economies could say that their public debt-to-GDP ratio is 6%. If we include domestic debt, let us generously put it at 20%. At the same time, reserves are sufficient to cover more than four months of imports,” Maurizio Tamagnini said.
He highly assessed Azerbaijan’s economic management results, saying that the country could serve as an example in this regard for other states, including Western countries.
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