News Archive

23 February 2022

SOCAR hosts World Economic Forum President

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On February 23, SOCAR’s First Vice President and acting President Rovshan Najaf met with a delegation led by the President of the World Economic Forum Børge Brende. The meeting focused on the development of existing relations and prospects for cooperation between SOCAR and the World Economic Forum, as well as the exchange of experiences and partnership opportunities with the Industry 4.0 Digital Center in Baku.

Rovshan Najaf noted that SOCAR is a long-term partner of the World Economic Forum and is interested in developing cooperation and attending the future events of the Forum. Two SOCAR enterprises - Petkim and STAR Refinery - have joined the WEF Global Lighthouse Network as one of the world’s most digitalized manufacturers. Digitalization has been identified as one of the priority development areas in SOCAR's Corporate Strategy until 2035. In this regard, the launch of Centre for the Fourth Industrial Revolution (C4IR) in Azerbaijan opens new prospects for expanding cooperation between SOCAR and the World Economic Forum.

Børge Brende expressed satisfaction with opening the Fourth Industrial Revolution Centre in Baku, noting that the issue of founding this Centre was agreed with President of the Republic of Azerbaijan Ilham Aliyev two years ago. The Centre will conduct research in artificial intelligence, digital trading, etc. Børge Brende said that it would create new opportunities for cooperation with SOCAR, one of the valuable partners of the Forum in these areas. He also reminded that energy supply is one of the main issues on the world agenda and stressed their interest in expanding cooperation in developing of renewable energy and other energy projects.

The meeting emphasized SOCAR’s rich experience, traditions and human resources in oil and gas industry, and exchanged views on using current resources in the C4IR.