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Invictus gathers more than 600 industry partners for Mid-Autumn Festival in San Juan City

More than 600 industry partners, including construction suppliers, property developers, architects, contractors, and government officials, gathered at Gloria Maris Seafood Restaurant in Greenhills, San Juan City, on October 23 for the Mid-Autumn Festival with the Masters, hosted by the Federation of Construction Suppliers of the Philippines (Invictus).

The celebration brought together members and guests for an evening of industry discussions, networking and the traditional Mid-Autumn dice game, with more than ?3 million worth of prizes up for grabs.

Among the distinguished guests were Congressman Brian Poe, Presidential Communications Office (PCO) Undersecretary Precious Hipolito Castelo, Federation of Filipino Chinese Chamber of Commerce and Industry Inc. (FFCCCII) Executive Vice President Jeffrey Ng, Congressman Rolan Valeriano, Metro Manila Development Authority (MMDA) Col. Bong Nebrija, Malaysian Ambassador to the Philippines H.E. Dato’ Abdul Malik Melvin Castelino, former Senator Cynthia Villar, former Presidential Spokesperson Salvador Panelo, Philippine Reclamation Authority (PRA) Director Onyx Crisologo, and Philippine Pharma Procurement, Inc. (PPPI) President Winston Castelo.

Established in 1999, Invictus is the country’s premier building materials association, bringing together suppliers and industry partners whose businesses support construction and property development nationwide.

Invictus President Aldrin Derrick Chua welcomed the guests and emphasized the value of cooperation, shared leadership and stronger industry standards. He highlighted how the federation has grown through the relationships built among its members over the years.

The program also featured keynote speakers Cesar Wee, chief executive officer of Wee Community Developers, and Carson Choa, the company’s chief operating officer, bringing the property developer’s perspective to the gathering.

Invictus Chairman Peter Mangasing likewise underscored unity and collaboration as important foundations for the industry’s continued growth. FPJ Party-list Representative Brian Poe delivered the induction remarks during the formal program.

A major highlight was the property-market briefing by David Leechiu, president of Leechiu Property Consultants, who discussed changing conditions in Metro Manila’s residential condominium market.

Leechiu pointed to an oversupply of middle-market condominium units, weaker rental rates and more favorable terms being offered to prospective buyers. These include cash discounts reaching as high as 50 percent and interest-free payment arrangements extending up to 10 years for qualified buyers.

‘It’s going to go down to as cheap as P8,000, maybe even P5,000, in the next 12 months for a studio unit, and the others will just get cheaper and cheaper as the months pass,’ Leechiu said.

His presentation gave developers, suppliers and contractors a closer look at the pressures affecting residential demand and the opportunities emerging as property sellers adjust their strategies.

Following the formal presentations, the atmosphere shifted from market forecasts to friendly competition as guests joined the traditional Mid-Autumn dice game, also known as Pua Tiong Chiu.

The event was closed by Invictus Director Norton Cheng. For Invictus, the celebration reflected the importance of maintaining strong professional relationships across the construction supply chain, bringing together established industry players and new partners in an evening of business insights, camaraderie and tradition.

Tinubu defends borrowing strategy as debt service consumes 65% of revenue

President Bola Tinubu has defended his administration’s growing reliance on borrowing to finance infrastructure, arguing that Nigeria must shift from debt-funded consumption to investments capable of generating long-term economic returns, even as debt servicing continues to absorb about 65 percent of government revenue.

The President, in an article personally authored on Friday, said public debt stood at 35.75 percent of gross domestic product in the second quarter of 2026, a level he described as manageable compared with peer economies, but acknowledged that the debt-service burden underscores the need for greater fiscal discipline.

He said his administration was directing new borrowing towards roads, ports, railways and power infrastructure, with the expectation that the investments would expand economic activity, generate revenue and create jobs.

However, the strategy raises questions about how quickly these projects can generate sufficient economic returns to offset borrowing costs, particularly as the government’s revenue base remains constrained.

This call aligns with views of economic experts who had consistently warn of the need to reduce cost of governance and focus more on investments that will boost revenue generation

But the President said his administration has been making difficult choices since he assumed office in 2023

‘We have made difficult but necessary decisions: removing the petrol subsidy, unifying the exchange rate, modernising the tax framework, and coordinating action on inflation. These reforms have restored macro balance, quadrupled federation revenue since 2021 and rebuilt the credibility of the State’s balance sheet’

‘The results are now visible: real GDP growth reached 4.43% in Q2 2026 and 4.2% in H1, up from 2.74% in 2023, while headline inflation fell to 14.63% in September 2026 from 20.98% a year earlier’

The president however agreed that food inflation has remained high at 19.59%.

But added that Gross external reserves are rising at current $55.1 billion as of 9 October 2026, including about $46 billion in net reserves, highest in 18-years.

‘The NFEM exchange rate stood at ?1,333/US$, with the market spread below 5%, and public debt remains low compared to peers. Nigeria’s cost of borrowing keeps falling. Confidence has a price, our cost of borrowing is going down, and the country risk premium has drastically decreased.

Tinubu who stated that his administration has continued to change purpose of public borrowing, added that the current ‘objective is to increasingly direct new borrowing towards productive capital investment, while maintaining fiscal discipline, reducing refinancing pressures and ensuring that public debt translates into measurable economic value. Nigeria borrows to invest in roads, ports, rail and power that will generate growth, revenue and jobs for decades.

‘Every Naira and every dollar raised goes to assets that create value, and that value repays the debt. This is how Nigeria will reach the objective of a USD 1 trillion economy by 2030: not through consumption, but through investment in the infrastructure that makes growth possible.

‘This shift is being supported by a stronger fiscal position: tax-to-GDP has risen to 12.5% from 7%, net FAAC increased by 44% from ?15.2 trillion in 2024 to ?21.9 trillion in 2025, and Nigeria recorded a ?20.1 trillion trade surplus in H1 2026, almost double the ?10.2 trillion recorded in H1 2025.

‘The Federal Executive Council economic strategy is clear on this point: no deficit monetisation and no unfunded commitments during the pre-election period. At the heart of this disciplined shift towards productive borrowing are our administration’s legacy projects:

‘The administration is focusing productive borrowing on financing major infrastructure projects, including the Lagos-Calabar Coastal Highway; improvements to the power sector and electricity grid; the Sokoto-Badagry Superhighway; the Trans-Sahara Superhighway; and upgrades to Nigeria’s major commercial ports in Lagos.’

Azercell-backed event promotes Azerbaijani craftsmanship and women’s empowerment

The “Fabric of the Future” event, organised under the SHE platform in partnership with Azercell, brought together cultural heritage, traditional craftsmanship and women’s empowerment, highlighting opportunities for women to develop their skills and expand their economic participation.

The initiative, held under the SHE platform established by the Azerbaijan Business Women organisation, centred on qurama, a traditional Azerbaijani patchwork art form, exploring how cultural traditions can be preserved while creating new opportunities through technology and entrepreneurship.

A central feature of the event was the presentation of a new collection by Amina Malikova, whose work focuses on researching, reviving and promoting qurama internationally.

Opening the event, Tatyana Mikayilova, Chair of Azerbaijan Business Women and founder of the SHE platform, outlined the initiative’s objectives and its significance for promoting women’s creativity and professional development.

Speaking at the gathering, Shirin Aliyeva, Azercell’s Chief Legal and Data Strategy Officer, emphasised the role of digital technologies and responsible business practices in helping women turn traditional skills into sustainable economic opportunities.

“Technology helps not only to preserve our cultural heritage but also to transform it into new economic opportunities. Through digital skills and access to technology, women can showcase traditional crafts to a wider audience and grow their businesses. Our goal is to preserve the cultural values inherited from the past while creating broader opportunities for future generations,” Aliyeva said.

She also highlighted Azercell’s initiatives aimed at supporting the personal development, digital inclusion and social well-being of girls and women.

As part of the programme, Azercell organised a panel discussion titled “Shaping Our Future,” focusing on societal expectations of women and the accessibility of support services for women and girls.

During the discussion, Sona Abbasova, Director of Azercell’s Corporate Communications Department, addressed the importance of strengthening women’s social and economic independence and expanding development opportunities for girls.

She presented information about two initiatives supported by the company: the Women’s Support Line and the Offline Women digital platform.

According to Abbasova, both services are designed to help women facing difficult life circumstances obtain timely assistance and access relevant support resources.

She noted that Azercell subscribers can contact the Women’s Support Line free of charge, while the Offline Women platform can be accessed without an internet data package.

These arrangements are intended to reduce barriers to essential services, particularly for women who may have limited access to communications or digital resources.

The event also featured a conversation between actor, playwright and television presenter Kamran Aghabalayev and Amina Malikova, exploring the cultural significance of traditional craftsmanship and its place in contemporary creative practices.

Through its partnership with the SHE platform, Azercell continues to support initiatives focused on women’s education, digital skills, social protection and economic participation.

Shin seals wire-to-wire win at Apo

Micah Shin overcame an early challenge from Russell Bautista to claim a nine-shot victory in the International Container Terminal Services Inc. Apo Golf Classic on Friday at Apo Golf and Country Club.

Holding a seven-shot overnight lead, Shin closed with a 70 for a wire-to-wire victory at 17-under 271, highlighted by birdies on Nos. 15 and 18.

Bautista trimmed the deficit to five with a 33 on the front nine but faltered down the stretch, dropping strokes on each of the final three holes to finish with a 73 and 281 total.

Sean Ramos carded a 69, including a birdie on the 18th, to claim solo second at 280.

‘It was actually quite tough today. I kept hitting the ball to the right and wasn’t able to save par on Nos. 2 and 4, which I managed to do in the third round,’ Shin said.

‘I just kept trying to play my own game and make more birdies. I managed to do that on No. 15 and the final hole, and got the job done,’ he added.

Shin capped his victory with a birdie on the par-5 18th despite finding the rough off the tee. Unable to reach the green, he laid up before hitting lob shot to within seven feet and sinking the putt.

The victory provided a fitting close to Shin’s 2026 Philippine Golf Tour campaign. After winning The Country Club Invitational last January, he left to play abroad and claimed another title in his return, bagging the P534,000 prize.

Clyde Mondilla, coming off a victory at South Pacific last week, finished fourth at 283 after shooting 72. Elee Bisera carded a 70 for 284, while Dino Villanueva fired the day’s best round of 68 to finish sixth at 285.

Guido van der Valk placed seventh at 286 after a 74, followed by Angelo Que at 287 after a 71.

Alex Bisera and Jacob Rolida tied for 11th at 289, but Bisera claimed low amateur honors via countback. Rolida shot 74, while Bisera matched par 72.

Heavy overnight rains delayed the final round, but Shin maintained his lead despite admitting that playing at his home course brought added pressure.

‘I had a big lead and, to be honest, playing at my home course was an advantage. But I got off to a bad start because I was trying to play too well. I just wanted to set a target score for the day and give the fans a show,’ he said.

Shin’s nine-shot victory highlighted his dominance throughout the week, as fellow Asian Tour campaigners Ramos and Justin Quiban failed to keep pace with his early charge.

Quiban shot a closing 69 and wound up tied for 16th at 292.

SM Active welcomes every Filipino to an active lifestyle at SM Supermalls

Building on decades of investments in sports, recreation and wellness. SM Active brings together communities, partners and facilities to make active living more accessible, inclusive, and part of everyday life.

For years, SM Supermalls has brought sports and wellness closer to every Filipino through its facilities, tournaments, and community events. As more Filipinos embrace an active lifestyle, SM Supermalls is broadening its quest of providing more opportunities and spaces to stay fit. SM Supermalls is opening a new chapter by bringing its efforts together under one brand: SM Active.

Evolving from SM Active Hub, SM Active is SM Supermalls’ broader vision to make active living part of everyday life for more Filipinos. Through SM Active, individuals and communities will experience a more integrated active ecosystem, making their experiences more meaningful and memorable.

Operating within the SM Ecosystem, SM Active brings together its facilities, sports and wellness offerings, and corporate partners. By leveraging SM Supermalls’ vast network, SM Active creates more opportunities to keep active and build stronger connections.

‘For over 30 years, SM has invested in spaces and experiences that encourage Filipinos to move, play, and connect. Through SM Active, we are bringing these strengths together under one brand with a simple goal: to make active living more accessible, inclusive, and part of everyday life for communities across the country. As we continue to grow our ecosystem of facilities, partners, and programs, SM Active aims to become every Filipino’s gateway to a healthier and more active lifestyle,’ said Steven Tan, SM Supermalls President.

Through SM Active, SM Supermalls is looking to bring more communities together by leveraging its nationwide footprint, deep partnerships, and quality facilities nationwide. SM Active is more than just a wellness initiative. It is SM Supermalls’ long-term pledge to empower more Filipinos to stay active and healthy.

Whether you’re just starting an active lifestyle or looking to level up, SM Active offers a wide range of facilities and events to keep you moving. With the country’s largest network of mall-based sports and active living facilities, SM Active features 108 pickleball courts, 176 bowling lanes, three ice skating rinks, expanding jogging paths, and more developments underway. Beyond providing spaces to play, SM Active brings communities together through regular events and transforms open areas into vibrant spaces for sports, fitness and wellness.

Together, these offerings have made it easier for newbies, enthusiasts, and experienced athletes to find activities that match their interests. SM Active elevates this experience by uniting the country’s most comprehensive network under one unified brand.

‘SM Supermalls believes that active living should be accessible to everyone. This has been part of our core mission ever since. With SM Active, we are unifying all our programs, experiences, and facilities to reaffirm our commitment to making active living a part of everyday life,’ said Tan.

Hopes for peace, unity mark first Bangsamoro Parliament session

REMEMBERING those who have suffered from years of conflict, which finally ended with the formation of the Bangsamoro Autonomous Region in Muslim in Mindanao (BARMM), President Ferdinand Marcos Jr. called for unity, statesmanship, and cooperation, at the first ever session of the Bangsamoro Parliament on Friday, with hopes to sustain peace and progress in the region.

In his speech, the chief executive recognized leaders from the national government and the Moro Islamic Liberation Front (MILF), who paved the way for peace in the conflict-torn region with the forging of the Comprehensive Agreement on the Bangsamoro, the Bangsamoro Organic Law, and the establishment of the Bangsamoro Transition Authority.

He expressed hope that peace and progress will continue once the BARMM government starts its operation with the inaugural session of the Bangsamoro Parliament.

Prior to the ratification of the Bangsamoro Organic Law, Mindanao was plagued by several separatist wars, including one waged by the MILF.

At their first session, the 80 members of Parliament elected their Chief Minister and Speaker to lead the executive branch, and the Cabinet alongside two Deputy Chief Ministers.

After the election, the BARMM government can start enacting regional laws, approving public spending, and overseeing government programs.

‘Today’s session also launches a new phase of parliamentary governance, working within our broader presidential system,’ Marcos said.

‘The new coalition must uphold unity, statesmanship, and cooperation to build a more peaceful and progressive BARMM,’ he added.

The groups that secured seats from the Bangsamoro Parliament allocated for political parties: Bangsamoro Federalist Party (BFP) with 16 seats; United Bangsamoro Justice Party (UBJP), the political arm of MILF with 15 seats; the BARMM Grand Coalition (BGC) with eight seats; and the Raayat Democratic Party with one seat.

Of the 32 district representative seats, the BFP won 15. The rest of the seats were secured by UBJP (nine seats), Serbisyong Inklusibo Alyansang Progresibo (six seats), Progresibong Bangsamoro Party (one seat) and Al Ittihad-UKB (one seat).

The six sector representatives were Yul Adelfo Olaya and Mary Ann Arnado as representatives of the settler communities; Aida Silongan as representative for women; Sulffy Abbas as representative for youth; Muhammad Nadzir Ebil as representative for the ulama; and Marjanie Mimbantas-Macasalong as representative for traditional leaders.

The elected lawmakers will replace the members of the Bangsamoro Transition Authority, which governed BARMM since 2019.

Earlier this month, Marcos had congratulated BFP president Abdulraof Macacua after their political party was able to form a 46 majority bloc, which exceeded the 41-seat threshold for forming a parliamentary majority.

Marcos reiterated that the national government will provide support, including economic opportunities, in Mindanao and BARMM.

‘I reaffirm the National Government’s support for Bangsamoro autonomy and democratic institutions. We stand ready to work with the government formally constituted by this newly elected Parliament,’ Marcos said.

‘To the people of the Bangsamoro: the National Government stands with you. Your success is the success of the country,’ he added.

Kwara govt launches gender policy in education to promote equal learning opportunities

The Kwara State Government has unveiled its policy on Gender in Education and its implementation guidelines to promote equal educational opportunities, address gender related barriers and strengthen inclusive learning across the state.

The policy was unveiled by the Kwara State Ministry of Education and Human Capital Development in collaboration with the Kwara State Adolescent Girls Initiative for Learning and Empowerment (AGILE) Project in Ilorin.

Lawal Olohungbebe Ph.D, Commissioner for Education and Human Capital Development, described the unveiling as an important step towards ensuring equal educational opportunities for every child in the State.

He acknowledged the leadership of Governor Abdulrahman Abdulrazaq and his administration’s commitment to educational development, particularly initiatives affecting girls’ education.

‘The success of this policy will depend not only on its official unveiling but also on our collective commitment to its effective implementation.

‘I therefore encourage all relevant stakeholders to take ownership of the policy and work together to translate its provisions into practical actions and measurable results.

‘As we officially unveil this document, let us renew our commitment to ensuring that gender does not become a barrier to access, participation, retention, or achievement in education,’ he stated.

The Commissioner, who was represented by Rebecca Bake Olanrewaju, Permanent Secretary of the Ministry, commended the State Project Implementation Unit (SPIU) and everyone who contributed to the domestication of the document.

Adeshina Salami, the Kwara AGILE Project Coordinator, explained that the policy was adapted from the national framework to reflect the peculiar needs and circumstances of the state.

Salami noted the domestication process was necessary so that the national policy could be effectively implemented within Kwara State’s education system, even as he described the launch as an exercise in ownership.

He stressed that, when everyone commits to the policy and does their part, it becomes harder for any girl to be left behind, adding that, ‘by the end of today, we want more awareness of this policy, clearer understanding of roles, and a positive commitment to gender responsive education.’

He explained that the process was facilitated by the project’s System Strengthening Sub Component, 3.1, with Development Options Consulting Limited as the implementing partner. He said the company, led by its Chief Executive Officer, Olatunji Awoleye, supported the adaptation of the document.

According to Salami, the policy is designed to guide educational planning and service delivery, ensuring that learners of all genders have access to educational infrastructure, facilities and opportunities for improved learning outcomes.

He added that its implementation would cover all levels of education, from primary and secondary schools to tertiary institutions.

Lawal Hamzat, Deputy Project Coordinator of Kwara AGILE, who also doubles as the System Strengthening Lead, highlighted the importance of the policy in strengthening the sustainability of educational interventions and supporting government efforts to address challenges affecting learners.

He noted that it provides a strategic framework for improving educational access and participation, while addressing gender based violence and other barriers that may stop learners from reaching their full potential.

Education stakeholders at the event commended the state government and the AGILE Project for the initiative, and urged them to sustain their efforts towards improving educational opportunities and outcomes across the state.

PBBM banks on Filipino cuisine to boost tourism

HELM keeps 2 Stars as Michelin Guide recognizes 127 restaurants

THE stars were out on Thursday night as the prestigious Michelin Guide recognized 127 outstanding dining establishments in select areas in the Philippines.

HELM of Filipino-British Chef Josh Boutwood retained his Two-Star rating in the Michelin Guide for Manila and Environs, and Cebu 2027.

Nine restaurants also received a One-Star rating, with Flow in Makati, led by Chef Kevin Jonathan Uy, being the newest entrant. The eight other restaurants also received one stars in the initial Michelin Guide 2026.

These were: Asador Alfonso in Cavite of Chef Rodriguez Andres Osorio, Celera in Makati (Nicco Santos), Gallery by Chele in Taguig (Chele Gonzalez), Hapag in Makati (John Kevin Navoa/Thirdy Dolatre), Inatô in Makati (JP Cruz), Kása Palma in Makati (Aaron Isip), Linamnam in Parañaque (Don Baldosano), and Toyo Eatery in Makati (Jordy Navarra).

The awards were handed out at the Manila Marriott Grand Ballroom, with President Ferdinand R. Marcos Jr., First Lady Liza Araneta-Marcos, Tourism Secretary Ma. Bernardita Angara-Mathay, and Newports World Resorts Excutive Chairman Kevin Andrew L. Tan in attendance.

‘Another reason to visit the PHL’

In his remarks before the honors were handed out, Marcos Jr. said: ‘For Filipinos, food is never just about food. It is how we welcome guests, how we bring our families together, and share a little of ourselves with others. It is how we turn a simple meal into a memory, and the stranger into a friend.’

He added: ‘Our adobo, kinilaw, sisig, and countless regional specialties tell the story of who we are. They reflect our resourcefulness and the richness of the ingredients found across our islands.’

While the Philippines is already known for its beauty, rich. history, and vibrant culture, the President expressed hope that through the Michelin Guide, ‘our cuisine can become another reason for travelers to visit, explore our regions, and to stay longer.’

The Michelin Bib Gourmand 2027 selection showcased 31 establishments, including 10 new additions. Bib Gourmand restaurants promises high-quality food at moderate price points.

The 10 new additions are Apag Marangle (Pampanga), Ato-Ah (Cebu; Promoted), Azela (Manila), Balay Dako (Cavite), Bawai’s Vietnamese Kitchen (Cavite), Butcher Boy (Las Pinas; Promoted), CHE Bacolod Chicken House Express (Makati), Kalipay (Cebu), Tatang’s Lechon (Cebu), and Tito Boy (Pampanga).

Eighteen establishments were added to the Michelin-Selected restaurants, raising the total to 86. The total list includes old reliables restaurants like Cirkulo (Makati), China Blue (Pasay), Summer Palace (Mandaluyong), Carmelo’s Steakhouse (Makati), Sala (Makati), Lore (Taguig), Blackbird (Makati), People’s Palace (Makati), Abe (Taguig), Haliya (Parañaque), to name a few. The full list at https://tinyurl.com/ym87r8f7

Special awards

Special awards were also handed out at the top of the ceremony:

Michelin Opening of the Year Award: Chef Frances Tariga of Tadhanà (Makati);

Michelin Young Chef Award: Chef Francis Lacson of Digámo (Marikina);

Michelin Service Award: Restaurant Manager Clyde Joshua Zafra of Tito Boy (Pampanga); and

Michelin Exceptional Cocktails Award: Ron Job Sanchez, Bar Beverage Manager of Automat (Makati).

In a news statement, International Director of the Michelin Guide Gwendal Poullennec said: ‘The Philippines continues to impress with the way its culinary scene is evolving while remaining deeply connected to its roots. Our Inspectors found chefs expressing a growing confidence in showcasing local ingredients, traditions and regional flavors, while bringing fresh perspectives and creativity to their craft. The result is a dining landscape that is increasingly diverse, distinctive and reflective of the country’s rich gastronomic heritage.’

The Michelin Guide, founded in 1900 as a reference in France to encourage car travel and boost tire sales, is now a globally recognized restaurant and hotel evaluation publication. It employs anonymous, full-time inspectors to assess and review said establishments, with a Michelin Star system in place, with Three Stars as the highest accolade.

bp’s third-quarter profit jumps to $8.5 billion

Energy company bp’s adjusted profit for the third quarter of this year surged by approximately 300% year on year to $8.5 billion.

bp has released its financial results for the third quarter of the year.

The report said that higher oil and gas prices, driven by an energy supply crisis following the war in the Middle East, as well as wider profit margins, were the main factors behind the increase in bp’s earnings. The company’s adjusted profit for the third quarter reached $8.5 billion, compared with $2.2 billion in the same period last year, representing an increase of approximately 300%. This marks bp’s highest quarterly profit since 2022.

Between January and September, bp generated approximately $17.4 billion in profit, compared with $5.94 billion in the same period last year.

bp Chief Executive Officer Meg O’Neill said that energy markets continued to face a period of volatility and disruption.

“The sector as a whole is demonstrating extraordinary capacity to adapt to changing conditions. Refineries are operating close to their capacity limits to compensate for supply shortages, while maritime transport is using different and longer routes. Revenues from strategic and commercial inventories are also helping to bridge supply gaps,” she noted.

According to her, market conditions, supported by higher prices and wider margins, along with improved performance across the company, had enabled bp to deliver strong financial results.

“Our adjusted profit in the third quarter was $8.5 billion, while cash flow from operating activities reached $14.8 billion. These results helped reduce net debt by $8.4 billion. We have therefore achieved our targets for reducing net debt and structural costs. In addition, we have a clear path to making progress on the remaining two of our four key financial targets for 2027,” O’Neill added.

Azerbaijan choosing trade over war in South Caucasus, Hajiyev tells Jeffrey Sachs [VIDEO]

Azerbaijan is seeking to transform the South Caucasus from a region of geopolitical confrontation into a platform for economic cooperation, regional connectivity and lasting peace, Hikmet Hajiyev, Assistant to the President of Azerbaijan and Head of the Foreign Policy Affairs Department of the Presidential Administration, has said. You can watch the full video down below.

Hajiyev made the remarks during a conversation in Baku with American economist and professor Jeffrey Sachs, footage of which he shared on his official X account.

Azerbaijan has transformed South Caucasus from ‘The Battle Space’ of big powers to ‘A Marketplace’ or ‘Cooperation Space’of every party.

‘In Baku, Professor Jeffrey Sachs sit down with Hikmat Hajiyev, Assistant to the President of the Republic of Azerbaijan, Head of the Department of Foreign Policy Affairs of the Presidential Administration of the Republic of Azerbaijan. From a country that spent 34 of its 35 years of independence at war, to one now quietly building a green corridor from the Caspian Sea to Europe, Azerbaijan is rewriting its own story.

Hajiyev reflects on the peace with Armenia, the 800 gigawatts of wind potential sleeping beneath the Caspian, COP29, and a surname that carries within it both an Arabic pilgrimage and a Russian suffix, a dialogue of civilisation in a single word. Professor Sachs delivers the Pope’s encyclical on peace and AI. And somewhere between the caviar and the wind farms, a new picture of the world begins to take shape,’ the post stated.

In his interview, he stated. “We want to transform the region from a ‘battlefield for great powers’ into a ‘marketplace for great powers.’ We have shown our partners that trade is far better than war.”

He explained that Azerbaijan’s approach draws on its experience of attracting international investment into the energy sector, particularly through the 1994 Contract of the Century.

“A prime example is the 1994 ‘Contract of the Century’ for the development of Azerbaijan’s hydrocarbon resources, for which we invited companies from the United States, Europe, Trkiye, the Arab world, and even Iran,” he noted.

Green energy corridors and European cooperation

Hajiyev also highlighted Azerbaijan’s expanding energy partnership with the European Union, noting that cooperation is increasingly extending beyond traditional oil and gas supplies.

Referring to a recent visit by European Commission President Ursula von der Leyen, he said discussions had focused not only on hydrocarbons but also on developing a green energy corridor connecting the Caspian region with Europe’s electricity network.

“Naturally, in previous visits, hydrocarbons and the European market were the dominant factors on our agenda-and they remain so today; that is an unavoidable reality. At the same time, however, a significant portion of our discussions focused on a ‘green corridor’ stretching from the shores of the Caspian Sea to Europe’s energy grid.”

According to Hajiyev, Azerbaijan expects a substantial increase in renewable electricity generation capacity in the coming years, creating additional opportunities for energy exports.

“Azerbaijan possesses immense potential: within just a few years, we will have an additional 2 GW of renewable energy capacity, followed by another 8 GW a couple of years later-all available for export.”

He linked these ambitions directly to the ongoing peace process with Armenia, arguing that energy connectivity could help demonstrate the economic advantages of regional cooperation.

“We are no longer constructing dividing lines or walls; instead, we are building peace and overcoming the fragmentation of our region. We aim to demonstrate the economic benefits of a peace-oriented vision-the ‘dividends of peace.’ I hope that green energy will become an integral part of this strategy.”

Azerbaijan chooses lasting peace with Armenia

Addressing the history of the Azerbaijan-Armenia conflict, Hajiyev stressed that Baku had chosen reconciliation and economic integration over continued confrontation.

He described the peace initiative as a significant political decision following decades of conflict and occupation.

“The President and the leadership of Azerbaijan have demonstrated immense political and diplomatic courage, and we have extended a hand of peace to our neighbor, Armenia. We faced two paths: perpetual war or perpetual peace. We chose the path of perpetual peace.”

Hajiyev emphasised that the objective was not simply to establish a formal diplomatic agreement, but to create practical conditions in which citizens and businesses could experience the benefits of peaceful relations.

“This is not merely a declarative peace on paper. We are building a functional, tangible peace-one that people can truly experience, allowing them to appreciate the value of a peaceful life after 35 years of independence, most of which were defined by war.”

He added that Azerbaijan intended to consolidate these gains through a regional security framework capable of withstanding future challenges.

“Now that we are living in peace, we are discovering its true worth; we will cherish it, strengthen it, and use it as a foundation to construct a unique security architecture, one capable of withstanding any negative challenges and ensuring a long-lasting impact for future generations.”