There are opportunities for Italian companies not only to carry out commercial operations in Azerbaijan, but also to perform certain production and industrial functions, CEO and Managing Partner of the Italian investment fund FSI Maurizio Tamagnini told APA-Economics.
According to him, the results of the 2nd Azerbaijan International Investment Forum held in Baku last week were positive and promising, while there is also an opportunity to make broader use of the existing potential.
“Investors see a very stable environment here. Investors need a stable environment to actually come and invest and expand their positions. At the same time, they see that there are significant opportunities to invest in the key industrial sectors they are interested in,” Maurizio Tamagnini said.
The FSI CEO emphasized that the development of data centers and investment opportunities in this area were also widely discussed within the framework of the Forum.
Maurizio Tamagnini also touched upon the prospects for expanding the activities of Italian companies in Azerbaijan. According to him, since Italian companies are smaller compared to major German and US companies, they need local partnerships to expand their scale.
“So why should we limit ourselves to carrying out only commercial operations here? It is also possible to bring certain industrial functions to Azerbaijan,” the FSI CEO noted.
He said that the implementation of investment projects in Azerbaijan by Italian companies operating in high-value-added sectors such as mechanical engineering, medical equipment, and pharmaceuticals could be beneficial for both Azerbaijan and Italy.
Maurizio Tamagnini also drew attention to the existing economic ties between Azerbaijan and Italy. He described the investments of the State Oil Fund of Azerbaijan (SOFAZ) in Italy and Italy’s gas imports from Azerbaijan as areas of cooperation of strategic importance for both countries.
Speaking about FSI’s cooperation with SOFAZ, Maurizio Tamagnini said that the parties have been cooperating for more than 10 years.
“We are very pleased to further strengthen our relations with SOFAZ. We have been working together for more than 10 years. Our cooperation is very good. The SOFAZ team is extremely professional and adds value to us,” he added.
According to the FSI CEO, the gathering of heads of major sovereign wealth funds from various regions of the world in Baku can already be considered one of the concrete results of the Forum. He noted that the participation of investors from the Gulf countries, the Middle East, Asia, the United States and continental Europe in the event creates a platform for future cooperation.
Maurizio Tamagnini also said that he supports holding the Forum annually. In his opinion, one of the distinguishing features of the event is that investment topics are examined in greater depth rather than being limited to general discussions.
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