Azerbaijan bets on diversification: beyond oil — agro-industry, green energy and pharmaceuticals

Reducing dependence on oil remains a key element of Azerbaijan's economic strategy. In the Business Horizons program, Deputy Director of the Entrepreneurship Development Fund (ABDF) Yasin Jalilov named the processing of agricultural products, green energy and pharmaceuticals as promising areas. Sales of the Sumgait Chemical Industrial Park in the first half of 2025 exceeded 572 million euros, while exports of agricultural products from January to July 2026 grew by almost 23%.

Javlon TursunovFirst published on tafs uz 1 min read
Azerbaijan bets on diversification: beyond oil — agro-industry, green energy and pharmaceuticals

The key facts

  • Diversification of the economy and reducing dependence on oil remain key elements of Azerbaijan's strategy
  • Sales of the Sumgait Chemical Industrial Park in the first half of 2025 exceeded 572 million euros, of which almost 283 million euros were exports
  • Exports of agricultural and agro-industrial products grew by almost 23% from January to July 2026

Diversification as a strategic priority

Reducing dependence on oil remains a key element of Azerbaijan's economic strategy. Growth prospects cover industrial production, agriculture, logistics, tourism and renewable energy. The creation of industrial zones and the launch of new business projects contribute to expanding production and exports, while digital transformation opens up additional opportunities.

ABDF's view: what attracts investors

In the Business Horizons program, Deputy Director of the Entrepreneurship Development Fund of Azerbaijan (ABDF) Yasin Jalilov named economic stability and diversification as important advantages for investors. Among the most promising areas, he highlighted the processing of agricultural products, green energy and pharmaceuticals. According to him, ABDF aims to simplify entrepreneurs' access to support measures.

Indicators of industrial zones and exports

Sales volume at the Sumgait Chemical Industrial Park in the first half of 2025 exceeded 572 million euros, of which almost 283 million euros came from exports. Exports of agricultural and agro-industrial products also grew by almost 23% in the period from January to July 2026.

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