AmCham Azerbaijan co-hosted the “Techn ...
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AmCham Azerbaijan co-hosted the “Technovation by PMI” Advancing Science and Innovation for Sustainable Economic Transformation
On June 11, 2026, The American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) co-hosted globally recognized “Technovation by PMI” in Baku, bringing together business leaders, policymakers, and experts to explore the role of science and innovation in shaping the future of economy and industries.
“Technovation by PMI” forms part of a broader series of international forums focused on advancing dialogue around innovation, science, and regulation.
Discussions highlighted how technological progress, supported by robust scientific research, can contribute to gradual transformation of economies, business models while furthering societal interest. Participants also explored the importance of regulatory clarity and evidence-based policymaking in fostering innovation and ensuring that new technologies can deliver their potential benefits effectively.
Welcoming participants to the forum, Mr. Dayanat Sadullayev, President of AmCham Azerbaijan, underscored the value of constructive dialogue and collaboration among government institutions, the business community, and international partners in advancing innovation-driven growth. Afterwards, Mr. Huseyn Huseynov, Advisor to the Minister of Economy of the Republic of Azerbaijan, reflected on Azerbaijan’s ongoing economic development priorities and the growing role of the non-oil sector in driving long-term prosperity. Mr. Alexey Kim, Director of External Affairs for the CIS at PMI, highlighted the importance of regulation and taxation that encourages innovation, creates deeper public-private partnerships, and benefits society at large.
The first panel, dedicated to “Economic diversification through the Promotion and Development of the Non-Oil and Gas Sector”, explored the opportunities and policy priorities driving Azerbaijan’s economic transformation. The discussion featured perspectives from both government and industry representatives, including Mr. Elnur Soltanov, Deputy Minister of Energy of Azerbaijan; Mr. Valeh Alasgarov, Chairman of the Board of the Alat Free Economic Zone Authority; and Mr. Fariz Jafarov ,Executive Director of Azerbaijan Center for the Fourth Industrial Revolution (C4IR Azerbaijan). The panel was moderated by AmCham IDE Committee Deputy Chairperson, Head of Innovations at Pasha Financial Holding Ms. Tugra Musayeva. The second panel on “Corporate Transformation towards Harm Reduction and Sustainable Growth” examined how companies are leveraging innovation, technology, and scientific advancements to adapt to evolving market demands, enhance sustainability, and create long-term value. The discussion featured Ms. Marianna Kerimova, Transformation and Technology Manager at bp; Dr. Uygar Durgunay, Executive Managing Officer at Acwa; and Ms. Tomoko Iida, Director of Scientific Engagement at PMI. Moderator of the second session was Mr. Oleksii Kalynichenko, Head of Market Activation and Support for South Asia, Indochina, CIS, and the Middle East & Africa of PMI.
“Technovation reflects our commitment to science-led innovation and open dialogue. Evidence-based regulation plays a critical role in this journey—providing the clarity and predictability needed to enable innovation and provide access to better alternatives” commented Mr. Yuri Gordok, Managing Director of the PMI Affiliates in Caucasus. The event concluded with closing remarks by Mr. Zaur Karimov, Executive Director of AmCham Azerbaijan, who emphasized the importance of such initiatives in strengthening Azerbaijan’s position as a hub for forward-looking dialogue and innovation, bringing together global expertise and local perspectives. He also expressed his appreciation to the distinguished speakers, participants, government representatives, and PMI for their valuable contributions and support, noting that the success of the event reflects a shared commitment to fostering innovation, advancing knowledge exchange, and supporting Azerbaijan’s sustainable economic development.
The event – attended by more than 150 participants, including senior business executives, government officials, and other key stakeholders, as well as local and international media representatives – is a testimony to the importance and timeliness of this conversation. In 2026, Technovation was already hosted in the USA and Sweden.
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