50 Saudi firms eye investments in Azerbaijan: Official

Yusif Abdullayev, Executive Director of AZPROMO

Nearly 50 Saudi companies are gearing up for investment in Azerbaijan's sectors of energy, food security, and logistics, Al Eqtisadiah newspaper reported, citing Yusif Abdullayev, Executive Director of AZPROMO.

 

On the sidelines of Gulf-Azerbaijani Economic Forum, Abdullayev said negotiations are ongoing to increase the number of Saudi companies investing in the country to 80 and to reach an investment value of $4 billion.

 

He added that the Saudi private sector will develop a fully integrated residential complex, in addition to a large commercial center, as per an agreement with the Saudi Ministry of Investment.

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