Azerbaijan: A Reliable and Strategic Investment Hub among LLDCs
The World Investment Report 2025, published by the United Nations Conference on Trade and Development (UNCTAD), is one of the most authoritative sources reflecting the latest trends, challenges, and prospects of global investment flows. The report presents foreign direct investment (FDI) statistics for both developed and developing countries, as well as trends in “greenfield” projects and sectors. This document is particularly important for its findings on the investment environment of landlocked developing countries (LLDCs) and is considered a key reference point for regional comparisons.
According to the World Investment Report 2025, global investment flows to landlocked developing countries (LLDCs) declined by 10% in 2024, falling to $23 billion. Many LLDCs faced sharp volatility, with Kazakhstan experiencing a dramatic reversal from $3.7 billion inflows to a net outflow of $2.6 billion. Against this difficult backdrop, Azerbaijan distinguished itself as a country of stability and consistent investor confidence.
Between 2020 and 2024, Azerbaijan secured more than $1.5 billion in greenfield investment projects, placing it among the top LLDC destinations alongside Uzbekistan and Kazakhstan. This achievement highlights Azerbaijan’s ability to consistently attract new projects, particularly in energy and transport infrastructure. In the transport sector, Azerbaijan joined the leading group of LLDCs attracting international investors, together with Kazakhstan and Uzbekistan. This confirms Azerbaijan’s role as a strategic Eurasian logistics hub, at the heart of the Middle Corridor that connects Asia with Europe.
While some larger LLDCs experienced extreme fluctuations, Azerbaijan remained a reliable destination for investors. Unlike Kazakhstan, which suffered a sharp negative reversal, Azerbaijan consistently maintained positive inflows and project activity, reinforcing its reputation as a stable and trustworthy investment climate. According to the World Investment Report 2025, Azerbaijan attracted $253 million in foreign direct investment (FDI) in 2024, a figure that demonstrates the country’s strong position over other countries in the region. This underscores Azerbaijan’s relative resilience among LLDCs. Its position as a regional hub for energy and transport corridors continues to make it an attractive destination for greenfield and infrastructure investments, even amid global investment downturns.
According to UNCTAD’s World Investment Report 2025, Azerbaijan’s accumulated FDI inward stock reached $27.5 billion in 2024, marking a more than 15-fold increase since 2000. This places Azerbaijan among the top LLDC performers, significantly ahead of Armenia ($7.8 billion) and Uzbekistan ($16.7 billion). Looking ahead, Azerbaijan’s proven ability to attract and retain investment positions it as a key player in shaping the future of connectivity and growth across Eurasia.








Op-eds
Ilkin Gasimov
Chief advisor of the Economic analysis division
New Financial Model for Resource Allocation in General Education
Baghish Ahmadov
Advisor to the Executive director of the Center for Analysis of Economic Reforms and Communication
Azerbaijan International Investment Forum: Investment Cooperation and National Development Priorities
Abdulrahim Dadashov
Deputy head of the Monitoring and evaluation division
Environmental Responsibility is One of the Key Conditions in the Development of the Mining Industry
Latif Zeynalli
Head of State Programs Division
Development of Competition Will Create New Opportunities for Sustainable Economic Growth
Orkhan Sadigov
Head of the Monitoring and evaluation division
A New Approach to Managing Off-Budget Funds Will Strengthen Financial Discipline
Elshan Yusifli
Head of the Monitoring of sectoral programs sector
New Changes to Nakhchivan’s State Programme: Export, Logistics and Social Mechanisms Improved
Abdulrahim Dadashov
Deputy head of the Monitoring and evaluation division
New Law Strengthens the Sustainable Development and Digital Monitoring of the Fisheries Sector