SOFAZ invested $6.5 billion in US economy
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.
Related news releases
- 22.06.2017Reasons for revising 2017 state budget announced
- 22.06.2017Azerbaijan increases revenues and expenditures of 2017 state budget
- 22.06.2017Chamber of Accounts gives opinion on draft law on amendments to state budget
- 22.06.2017IBA transfers $50M to Kazakh Pension Fund
- 22.06.2017Central bank may reduce discount rate at next meeting
- 22.06.2017Central bank: Macroeconomic policy stabilizing manat won’t change by year-end
- 22.06.2017Central bank reduces discount rate to 10%
- 21.06.2017Muganbank’s ratings may become worse
- 21.06.2017S&P: Muganbank will end 2017 on loss
- 21.06.2017S&P: Troubled loans in Muganbank to rise to 20%
- 21.06.2017S&P downgrades Muganbank’s rating to CCC+/C
- 21.06.2017ABA: Ten banks faced capital deficiency
- 21.06.2017ABA: Seasonal factors have no systematic impact on manat
- 21.06.2017Discount rate may be reduced down to 12% is real - ABA
- 21.06.2017ABA: Consolidation in banking sector is inevitable
- 21.06.2017IBA head announces expectations on restructuring plan
- 20.06.2017Azerbaijan establishes State Advertisement Agency
- 20.06.2017Azerbaijan’s 2017 budget to be revised
- 20.06.2017June’s pensions to be paid by Eid Al-Fitr - minister
- 20.06.2017Fed's Evans says worth waiting until year-end to assess next rate hike
- 20.06.2017International Bank of Azerbaijan changes plan on restructuring of obligations
- 19.06.2017Financial Markets Supervisory Authority blacklists one person
- 19.06.2017Catering turnover rises 2% in Azerbaijan in 2015
- 19.06.2017ADIF pays over AZN 734M in compensation to eleven closed banks’ customers
- 19.06.2017Azerbaijan sees 1.5% rise in consumption market
- 19.06.2017Azerbaijani customs prevents 7kg of gold bullions smuggling
- 19.06.2017Central Bank announces results of today’s auction
- 16.06.2017Investments in fixed capital from foreign companies make up AZN 3.5B
- 16.06.2017Azerbaijan sees 0.9% decline in economy
- 16.06.2017Average exchange rate of manat for May announced
- 16.06.2017Personal incomes rise 7% in Azerbaijan
- 16.06.2017State budget executed with deficit in five months
- 16.06.2017USD rate for June 19 announced
- 16.06.2017Central Bank of Azerbaijan to attract AZN 200M
- 16.06.2017Azerbaijan Railways CJSC seeks financial advisor to explore possible refinancing of certain existing liabilities
- 15.06.2017President Ilham Aliyev receives CEO of American company John Deere - UPDATED
- 15.06.2017Moody’s: Authorized capital of Azerbaijan’s Bank Respublika to be increased
- 14.06.2017Fed raises interest rates
- 14.06.2017Moody’s downgrades deposit ratings of four Azerbaijani banks
- 14.06.2017Furniture and real estates of closed banks put up for auction
- 02.03.2017Financial Markets Supervisory Authority blacklists 4 persons
- 03.03.2017Central Bank attracts AZN 218M
- 03.03.2017Azerbaijan sees decline in February’s monetary base
- 02.03.2017AMF's mortgage portfolio could grow 30%-40% in 2017 - Fitch
- 02.03.2017Fitch Ratings affirms AMF’s rating at BB+ with negative outlooks
- 01.03.2017CB currency reserves rise 8.5%