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

Baku has completed a week of octane-fuelled racing, high-level security facilitation and secured record investments in one of its most dynamic events-filled weeks of the year. The Azerbaijan International Investment Forum (AIIF) completes a full week of high-level events in Baku, which include the Baku Security Forum, where over 100 countries attended to discuss new-age threats and Formula 1's Azerbaijan Grand Prix, which has seen the city transform into the biggest motorsport event of the year. It is one of the busiest weeks in the country’s calendar, and many industries are reaping the rewards. The week concluded with a shift in focus to international finance and investment as the Second Azerbaijan International Investment Forum opened on 25 September at the Baku Convention Centre. The two-day event aimed to redefine the global investment architecture and strengthen the South Caucasus as a pillar of connectivity. Keyu Jin, Professor of Finance, Chair of the Centre for Macro-Finance and Geo-economics at the Hong Kong University of Science & Technology, China, was one of the attendees at AIIF. She said she was "remarkably impressed" by the city and the organisation of all the events "from the Formula One to the security conference to the AIIF conference really bring a flow of people around the world and really placing Azerbaijan on the global map". She told Euronews that "it is inherent forward-looking towards the future, but fused with this savouring of the past is really what makes this place really special". Major deals at the investment forum Azerbaijan’s Minister of Economy, Mikayil Jabbarov, said in his address that "reliability of partners and the resilience of supply chains carry even greater weight in economic decision-making" and that long-term partnerships were continuing to grow and "generate new investment and reinvestment". "Most foreign companies operating in our country choose to reinvest their profits back here and especially along with traditional energy production also to renewable one," he added. Azerbaijan’s new pitch for international capital is not simply to invest in the country, but also to use it as a gateway to a much bigger market. There are reasons why the country is attracting global investors. A growing focus on what connects Asia to Europe and a push towards diversification seems to be very attractive to some, including the Ministry of Economy, which partnered with Vietnam's ROX Group on construction and development, while also signing a memorandum of understanding with Microsoft to advance the national digital economy. In renewable energy, the Ministry of Energy teamed up with energy subsidiaries of ROX Group to evaluate utility-scale solar and wind projects. The Azerbaijan Business Development Fund signed agreements with Slovakia's Saneca Pharmaceuticals for drug manufacturing, Turkey's VETAL for veterinary vaccine production, and the Czech Republic's AGROFERT alongside Agro Dairy for the Aghdam Poultry Project. Azerbaijan Investment Holding and the Oman Investment Authority signed a term sheet regarding the Azerbaijan-Oman Direct Investment Fund, while SOCAR, the Azerbaijan State Water Reserves Agency, and UAE-based Esyasoft Technologies established a tripartite agreement to assess local water meter manufacturing. Nouriel Roubini, CEO of Rubini Macro Associates, believes Azerbaijan is going from "strength to strength". He cites several reasons, including its energy resources, saying "we live in a world in which the demand for energy is really important". When referring to Azerbaijan, he underlines his belief that the country has "good governance, good macroeconomic policies, and they have also a vision about how they can integrate their own economy into a broader regional economy and trade and investment links between East and West". These new contracts build directly upon the massive capital influx initiated during the inaugural forum. The first Azerbaijan International Investment Forum in September 2025 resulted in the signing of investment agreements worth over $10 billion (approximately €8,8 billion) Significantly, more than $7 billion (€6,1 billion) of those initial commitments went to the non-oil sector, setting a strong precedent for this week's deals. Attracting cross-border partnerships The pull of the Middle Corridor, which is increasingly being considered a real logistical alternative route for trade and energy, is certainly becoming a draw. The World Bank estimates that, with sufficient investment and greater efficiency, trade flows along the route could triple by 2030, while journey times could be cut in half. "We see the Middle Corridor as an efficient alternative transport route for our export-import operations," Uzbekistan's Minister of Investment, Industry and Trade, Laziz Kudratov, explained. He noted that bilateral trade has reached "almost $1 billion (approximately €877 million)," with a firm target set to "double our trade". The logistical impact is already measurable, as Kudratov disclosed that "over the past three years, the shipment of goods via Azerbaijan has more than doubled" and growth sits "above 30% these six months of this year". To support this volume, the two governments are establishing a joint transport and logistics venture to invest in new ferries and infrastructure through the Nakhchivan and Zangezur corridors. "For Montenegro, Azerbaijan, it is a really special and important country," Mirjana Koic, Director of the Montenegrin Investment Agency, said, pointing to major existing Azerbaijani investments on the Montenegrin coast from Azmont and ongoing dialogues with Sea Breeze. She highlighted the strategic importance of energy connectivity, noting Montenegro's undersea cable whose "first phase finished with Italy," framing it as a vital link connecting the region to Europe. Having worked in the artificial intelligence sector for "over four decades," Kai-Fu Lee, CEO of ZeroOne.ai, expressed strong optimism for the region's technological landscape. "I believe it is extremely secure, and also I can see a lot of very favourable policies on tax and other issues," he observed, confirming his company's intention to set up operations in Azerbaijan to help train a "new army of AI engineers and also AI entrepreneurs". Formulating the Grand Prix The country is celebrating its 10th anniversary of hosting Formula 1's Grand Prix, attracting tourists and visitors alike, and is currently dominating the city's hospitality and tourism sectors. This year, the weekend runs an accelerated Thursday-to-Saturday schedule to accommodate Remembrance Day observances on Sunday, 27 September, but the race goes on. CEO of the European House Ambalzetti TEHA Group, Valerio De Molli, who attended AIIF, reflected on how the F1 Grand Prix helps to communicate Baku as one of the "modern, active, fast cities in the world". "That is important," he told Euronews. "Secondly, you need to identify the specific sectors of opportunities and spot those specific investors, again, in renewable energies, transport, and digital innovation spaces," he added. This compressed timeline has aided the central service infrastructure, which has operated continuously to support the massive influx of international motorsport fans and corporate delegations around the Baku City Circuit. Looking ahead to defence and technology At the beginning of the week, the State Security Service hosted the 4th Baku Security Forum, bringing together nearly 600 high-ranking representatives and special service agencies from over 100 countries to discuss transboundary infrastructure protection and global security architecture. The intense pace of international arrivals will continue directly into next week. As the motorsport and financial forums end, the events continue. Next, the city’s focus will shift to the 6th Azerbaijan International Defence Exhibition (ADEX), scheduled to begin on 30 September at the Baku Expo Centre. The exhibition will draw global defence delegations to review advancements in unmanned systems and electronic warfare, extending the capital's high-level economic momentum straight into October. When reflecting on the past week, one may describe the week as a "business boom in Baku," and looking ahead to this F1 weekend might well prove to be its most economically successful yet.