The Franchising Association of Azerbaijan (FAA) plans to hold Turan-Economic Forum in December 2023 in Azerbaijan aimed at investment in the tourism sector, Azernews reports, citing the Chairman of FAA.

Chairman of the Franchising Association Jamid Movsumov told, that more than 500 companies from over 100 countries are expected to participate in the forum, including Saudi Arabia, Kuwait, Japan, and Russia, among others.

"We also expect investment agreements to be concluded at this forum," he said.

Movsumov added that this year the forum will be held in Baku, and in subsequent years - in Turkiye, Kazakhstan, Kyrgyzstan, Turkmenistan, Uzbekistan, and Hungary.

It should be noted that the Association plans to open Rayess chocolate factory in Azerbaijan by the end of August. It is planned to invest one million dollars in the project at the first stage, and another 10 million dollars at the second stage.

The Forum will focus on topics such as developing a sustainable tourism sector, creating jobs and economic opportunities, and promoting Azerbaijan's cultural heritage. It will also explore ways to attract foreign investment and create an environment conducive to private sector growth.