Baku’s week of F1 racing, global security, and record investments

The week kicked off with a convergence of global forums in Baku, spanning a high‑profile security dialogue attended by more than 100 nations, a record‑breaking Formula 1 Grand Prix that transformed the city into a buzzing motorsport hub, and the opening of the Second Azerbaijan International Investment Forum (AIIF). The events underscored the country’s emergence as a multifaceted arena for diplomacy, sport and capital.

The agenda reflected one of the busiest weeks on Azerbaijan’s calendar, delivering tangible benefits across tourism, logistics, security and finance sectors.

The concluding day pivoted toward international finance and investment with the launch of the Second Azerbaijan International Investment Forum (AIIF) on 25 September at the Baku Convention Centre.

Over two days, the forum aimed to reshape global investment architecture and position the South Caucasus as a key node of regional connectivity.

Keyu Jin, Professor of Finance and Chair of the Centre for Macro‑Finance and Geo‑economics at the Hong Kong University of Science & Technology, was among the forum’s high‑level participants.

She expressed being ‘remarkably impressed’ by Baku’s ability to host the Formula 1 Grand Prix, the security forum and the AIIF conference, noting how the coordinated events attract a global crowd and put Azerbaijan firmly on the world map.

In her interview with Euronews, she highlighted the nation’s unique blend of forward‑looking ambition and reverence for its heritage, calling it ‘what makes this place really special’.

Major deals at the investment forum

Economy Minister Mikayil Jabbarov stressed that ‘reliability of partners and the resilience of supply chains carry even greater weight in economic decision‑making,’ adding that long‑term partnerships are expanding and ‘generate new investment and reinvestment.’

He noted that ‘most foreign firms operating in Azerbaijan choose to reinvest their profits locally, especially across both traditional energy and emerging renewable projects.’

Azerbaijan’s pitch to global investors goes beyond domestic opportunities, positioning the country as a gateway to a broader Eurasian market.

Several factors underpin Azerbaijan’s appeal to global investors.

The nation’s emphasis on Asia‑Europe connectivity and diversification resonates with investors. The Ministry of Economy forged a partnership with Vietnam’s ROX Group for construction and development, and signed a Memorandum of Understanding with Microsoft to boost the digital economy.

In the renewable sector, the Ministry of Energy collaborated with ROX Group’s energy subsidiaries to assess utility‑scale solar and wind initiatives.

The Azerbaijan Business Development Fund sealed agreements covering drug manufacturing with Slovakia’s Saneca Pharmaceuticals, veterinary vaccine production with Turkey’s VETAL, and a partnership with the Czech Republic’s AGROFERT and Agro Dairy for the Aghdam Poultry Project.

Azerbaijan Investment Holding and the Oman Investment Authority signed a term sheet for a joint Azerbaijan‑Oman Direct Investment Fund. Meanwhile, SOCAR, the State Water Reserves Agency and UAE‑based Esyasoft Technologies formed a tripartite agreement to evaluate local water‑meter production.

Nouriel Roubini, CEO of Roubini Macro Associates, described Azerbaijan as moving ‘from strength to strength.’

He pointed to energy resources as a core driver, noting that ‘we live in a world where energy demand is truly paramount.’

He emphasized Azerbaijan’s ‘good governance, sound macroeconomic policies, and a clear vision for integrating the economy into broader regional trade and investment corridors linking East and West.’

The fresh deals reinforce the momentum from the inaugural forum in September 2025, where investment commitments exceeding $10 billion (≈€8.8 billion) were secured.

Remarkably, over $7 billion (≈€6.1 billion) of those early pledges targeted the non‑oil sector, establishing a solid benchmark for the current round of agreements.

Attracting cross-border partnerships

The Middle Corridor’s emergence as a viable logistics alternative for trade and energy is increasingly attracting interest.

The World Bank projects that, with adequate investment and improved efficiency, trade volumes on the corridor could triple by 2030, halving journey times.

‘We view the Middle Corridor as an efficient transport alternative for our export‑import operations,’ said Uzbekistan’s Minister of Investment, Industry and Trade, Laziz Kudratov.

He reported bilateral trade at ‘almost $1 billion (≈€877 million),’ with a firm goal to ‘double our trade.’

Kudratov highlighted measurable gains: ‘over the past three years, shipments through Azerbaijan have more than doubled,’ with growth ‘above 30 % in the first six months of this year.’

To sustain this expansion, the two governments are creating a joint transport and logistics venture to fund new ferries and infrastructure across the Nakhchivan and Zangezur corridors.

‘For Montenegro, Azerbaijan is a truly special and important country,’ said Mirjana Koic, Director of the Montenegrin Investment Agency, citing existing Azerbaijani coastal investments by Azmont and ongoing talks with Sea Breeze.

She emphasized energy connectivity, noting Montenegro’s undersea cable whose ‘first phase finished with Italy,’ as a crucial link binding the region to Europe.

Kai‑Fu Lee, CEO of ZeroOne.ai, who has spent ‘over four decades’ in artificial intelligence, voiced strong optimism about the region’s tech potential.

‘I believe it is extremely secure, and I see many favourable tax and regulatory policies,’ he observed, confirming ZeroOne.ai’s plan to establish operations in Azerbaijan to cultivate ‘a new army of AI engineers and entrepreneurs.’

Formulating the Grand Prix

Azerbaijan marked the 10th anniversary of hosting the Formula 1 Grand Prix, drawing record numbers of tourists and reinforcing the nation’s position as a leading destination for hospitality and tourism.

This year’s event adopted an accelerated Thursday‑to‑Saturday schedule to accommodate Remembrance Day on Sunday, 27 September, ensuring the race proceeds as planned.

Valerio De Molli, CEO of the European House Ambalzetti TEHA Group, who attended the investment forum, noted that the F1 Grand Prix showcases Baku as ‘one of the modern, active, fast cities in the world.’

‘That is important,’ he told Euronews.

He continued, ‘Secondly, you need to pinpoint specific opportunity sectors and the investors that thrive in renewable energy, transport, and digital innovation spaces.’

The tight schedule has bolstered central service infrastructure, which has operated around the clock to support the massive influx of international motorsport fans and corporate delegations at the Baku City Circuit.

Looking ahead to defence and technology

Early in the week, the State Security Service convened the 4th Baku Security Forum, gathering nearly 600 senior officials and special service agencies from over 100 countries to discuss transboundary infrastructure protection and global security architecture.

The flow of international participants continues into the following week, as the motorsport and finance gatherings give way to further events.

The city’s attention will then shift to the 6th Azerbaijan International Defence Exhibition (ADEX), set to open on 30 September at the Baku Expo Centre.

ADEX will attract global defence delegations to showcase advancements in unmanned systems and electronic warfare, sustaining the capital’s high‑level economic momentum through October.

In retrospect, the week can be described as a ‘business boom in Baku,’ with the concurrent F1 weekend poised to be its most economically successful event yet.

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