Baku:Italian companies have opportunities to not only engage in commercial activities but also perform production and industrial functions in Azerbaijan, according to Maurizio Tamagnini, CEO and Managing Partner of the Italian investment fund FSI.

According to Azeri-Press news agency, Tamagnini noted that the recent 2nd Azerbaijan International Investment Forum in Baku highlighted a promising outlook for investment. He emphasized the importance of a stable environment for investors, which Azerbaijan offers, along with significant opportunities in key industrial sectors.

The development of data centers and investment prospects in this area were extensively discussed at the Forum. Tamagnini also talked about the potential for expanding Italian companies' activities in Azerbaijan, highlighting the need for local partnerships due to their smaller scale compared to major German and US companies.

He suggested that Italian companies, especially those in high-value-added sectors like mechanical engineering, medical equipment, and pharmaceuticals, could benefit from implementing investment projects in Azerbaijan. This would be advantageous for both countries.

Tamagnini pointed out the strategic economic ties between Azerbaijan and Italy, citing the State Oil Fund of Azerbaijan's (SOFAZ) investments in Italy and Italy's gas imports from Azerbaijan. He praised the decade-long cooperation with SOFAZ, describing the partnership as professional and valuable.

The CEO also mentioned that the gathering of heads of major sovereign wealth funds in Baku is a concrete result of the Forum, providing a platform for future cooperation among investors from the Gulf, the Middle East, Asia, the United States, and Europe.

Tamagnini supports the idea of making the Forum an annual event, as it offers in-depth examination of investment topics beyond general discussions.