The State Oil Fund of the Republic of Azerbaijan (SOFAZ), celebrating its 25th anniversary this year, convened its Annual Meeting under the theme “From National Wealth to Sustainable Development,” with the participation of its employees. Founded as a cornerstone of the visionary national oil strategy designed by National Leader Heydar Aliyev and further developed under the leadership of President Ilham Aliyev, SOFAZ has, over the past quarter-century, become a vital institution contributing to Azerbaijan’s sustainable development and economic growth.

Speaking at the event, SOFAZ’s CEO, Israfil Mammadov, reflected on the Fund’s transformative journey, highlighting its significant achievements and strategic vision for the future: "Since its establishment in 1999, the State Oil Fund’s assets have grown to exceed USD 60 billion, accounting for nearly 80% of the national economy. Furthermore, revenues generated from the management of the Fund’s assets have surpassed USD 15 billion. These results underline SOFAZ’s successful operational model, strategic foresight, and adherence to international best practices in risk management. Beyond achieving robust financial outcomes, SOFAZ has invested in projects that solidify Azerbaijan’s position in the global economic landscape. As a key financial pillar, it plays a critical role in driving sustainable development and safeguarding the prosperity of future generations."

The meeting also featured presentations by department heads, who provided insights into SOFAZ’s contributions over the past 25 years. Their discussions encompassed the sustainable and long-term contributions to the national economy through strategic projects, investment policies, and governance principles. Looking ahead, speakers emphasized SOFAZ’s commitment to advancing sustainable development, fostering international collaboration, and actively engaging in global investment platforms to expand its impact.

SOFAZ’s pivotal role in ensuring Azerbaijan’s economic stability since its inception was also a key theme of the discussions. With its strong foundation and management approach, supported by the leadership of President Ilham Aliyev, SOFAZ remains steadfast in its mission to serve as one of the primary financial pillars for both current and future generations.

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