SOFAZ invested $6.5 billion in US economy

SOFAZ invested $6.5 billion in US economy
  • Clock-gray 10:03
  • calendar-gray 02 March 2017

State Oil Fund of Azerbaijan has started diversification of investment portfolio since 2011, Deputy Executive Director of the State Oil Fund of Azerbaijan Israfil Mammadov said at the conference held in Washington DC on the 25th anniversary of bilateral economic and diplomatic relations between Azerbaijan and the US.


According to him, for diversification of the portfolio, SOFAZ invested $6.5 billion in US economy.


Executive Director of the Center of Analyses of Economic Reforms and Communication Vusal Gasimli noted that totally $200 billion has been invested in Azerbaijan’s economy, of which $10 billion was invested by the US companies.


Nuran Kerimov, the Managing partner of Deloitte in Azerbaijan and president of AmCham-Azerbaijan said that Azerbaijan has opportunities in terms of development of regional markets.


Speaking about Azerbaijan’s tourism potential, Gilan Holding’s finance director Fuad Karimov noted that Formula One and other similar events are significant in terms of introduction of Azerbaijan’s tourism potential to the world.


Chairman and of PASHA Bank’s Management Board Taleh Kazimov said that Azerbaijan’s economy has grown since early 2017.  


He also noted that the banks is exploring new opportunities in the US. 

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