"Holding" (AdQ) and"Azerbaijan Investment" We sign a memorandum of understanding to enhance the common development goals
Karabakh, September 16/ WAM/ “ADQ” and Azerbaijan Investment Holding Company (AIH) signed a memorandum of understanding with the aim of exploring the prospects for cooperation and enhancing joint development goals.
Under the Memorandum of Understanding, the two parties will discuss the possibility of cooperation in the financial services sector, and focus on initiatives aimed at establishing a strong investment system to support sustainable growth.
The partnership comes as a continuation of the joint investment platform that was launched in December 2023, through which the two parties committed to allocate the same amount of capital to support projects in sectors that include agriculture, technology, pharmaceutical industries and energy infrastructure in the UAE, Azerbaijan and Central Asia, with the possibility of expanding to other markets.
“The Memorandum of Understanding with Azerbaijan Investment Holding Company is our ability to build long -term partnerships that benefit all parties, and to use capital and benefit from investment experiences to enhance priority sectors in the main geographical areas, and contribute to enabling the policy of economic diversification and pushing the pace of industrial expansion Providing promising opportunities to support regional bonding and enhancing global competitive capabilities.
“Our partnership with” ADQ “is a prominent station towards opening new horizons that support the continuous progress of the Republic of Azerbaijan, and through joint work, we are working to direct capital and experiences towards strategic sectors, which contributes to enhancing more diverse growth at the state level, and this cooperation also embodies our aspirations For economic transformation, enhances regional ties, and contributes to the consolidation of Azerbaijan’s position on the global scene. “
It is noteworthy that Azerbaijan Investment Holding Company was established in 2020 with the aim of managing government companies and enhancing their performance, and contributes to supporting efforts to modernize the economy in Azerbaijan and draw the prospects for the future of growth and prosperity in the long run by enhancing governance, improving efficiency, and directing investments towards vital sectors.
Trade and investment relations between the UAE and Azerbaijan are witnessing continuous growth, as the volume of non -oil trade increased by 43% on an annual basis to reach $ 2.4 billion in 2024.
The UAE is one of the main economic partners of Azerbaijan with investments exceeding one billion dollars, which reflects the strong bilateral relations between the two countries since 1992.
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