New investment funds may appear in Azerbaijan  

  05 March 2018    Read: 1093
New investment funds may appear in Azerbaijan  

Azerbaijan Investment Company (AIC) is discussing the possibility of creating joint investment funds with foreign partners, AIC Executive Director Rovshan Najaf said at a press conference in Baku March 5.

He didn’t specify with which companies negotiations are underway, noting that all details will be revealed later.

AIC is already a shareholder of one of the investment funds - Caspian International Investment Company.

The Caspian International Investment Company was established in 2008, and the AIC has a 24.1 percent share in the company. Other shareholders of the investment company include the Islamic Development Bank, Islamic Corporation for the Development of the Private Sector, Al Ahmar Group and AREF Investment Group.

Najaf said that in general rendering support for the non-oil sector, in particular, through the creation of industrial zones in Azerbaijan’s districts will be the main task of the AIC in 2018.

In 2018, such zones will start operating in the Masalli, Hajigabul and Sabirabad districts, he added.

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