"International Holding" Expanding the horizons of cooperation with Azerbaijan across multiple vital sectors
ABU DHABI, 7 December 2019 / WAM / International Holding Company, which specializes in building dynamic value networks and promoting sustainable growth, concluded a strategic visit to the Republic of Azerbaijan, headed by His Highness Sheikh Zayed bin Hamdan bin Zayed Al Nahyan, and with the participation of Sayed Basr Shuaib, CEO of the company.
During the visit, the delegation met with His Excellency Ilham Aliyev, President of the Republic of Azerbaijan, and His Excellency Mikail Jabarov, Minister of Economy, to discuss expanding horizons of cooperation in promising growth sectors and supporting long-term strategic partnerships.
The delegation also included the CEOs of a number of companies affiliated with the International Holding Company group, namely: Ali Al Rashidi, CEO of International Resources Holding, Ajay Bhatia, CEO of Sirius International Holding, and Fouad Darwish, Managing Director and CEO of Palms Sports. Discussions focused on strengthening economic ties, exploring joint investment opportunities, and expanding areas of cooperation across priority sectors.
International Resources Holding held meetings with a number of ministries and government agencies in the Republic of Azerbaijan, to discuss opportunities for developing huge mining projects, including opportunities related to strategic minerals necessary to strengthen global supply chains.
International Resources Holding works to employ its advanced capabilities in the fields of exploration and apply the best sustainable development practices, which contributes to supporting the rapid growth of the natural resources sector in Azerbaijan.
Sirius also established its high-level partnership with government agencies in Azerbaijan through the smart gas network project worth US$480 million, which is being implemented by AsiaSoft in cooperation with the state oil company SOCAR.
The project includes the deployment of advanced network management systems supported by artificial intelligence technologies, the installation of smart meters, and the development of an advanced digital infrastructure.
Sirius also discussed additional opportunities for cooperation in the areas of digital transformation of the electricity and water sectors, and developing smart grid infrastructure, to support the transformation path in the energy sector in Azerbaijan.
Palms Sports Company, the official sponsor and bearer of the Neftchi Football Club, continues to strengthen its partnership with the Republic of Azerbaijan, as part of its growing international expansion. In just one year, it was able to establish its strong presence in the Azerbaijani market, which reflects the success of its integrated business model in developing sports.
The visit confirmed Palms Sports’ commitment to expanding cooperation in the fields of football, combat sports, community programs, and developing sports talent, enhancing its ambition to become a leading global provider of high-performance sports training solutions.
His Highness Sheikh Zayed bin Hamdan bin Zayed Al Nahyan said: “Azerbaijan is an important strategic partner for the UAE, and our visit reflects a joint commitment to building long-term cooperation relationships that include vital sectors and contribute to shaping the future of future generations. We look forward to expanding partnerships that achieve a sustainable economic and social impact.”
For his part, Sayed Basr Shuaib, CEO of the International Holding Company, said: “Our discussions in Baku confirmed our confidence in the strong growth path of the Republic of Azerbaijan, and the promising opportunities available in the fields of mining, digital transformation in the energy sector, and sports development. The International Holding Company and its subsidiaries are committed to providing advanced capabilities, innovative technologies, and sustainable investment frameworks that support the achievement of Azerbaijan’s national vision.”
This visit paves the way towards expanding the horizons of cooperation between the UAE and the Republic of Azerbaijan in the fields of natural resources, digital infrastructure, and sports. The International Holding Company and its subsidiaries will continue to study investment opportunities and potential partnerships that enhance economic value, support the consolidation of bilateral relations, and keep pace with the long-term development priorities of the two countries.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Related
