Azerbaijan and Oman establish joint $200-mln investment fund

BAKU. Oct 8 (Interfax) - Azerbaijan Investment Holding (AIH) and the Oman Investment Authority (OIA) have signed a shareholders agreement establishing a $200-million direct investment fund, Azerbaijani Economy Minister Mikayil Jabbarov said on social media.

The parties signed the agreement on Wednesday in Muscat.

Jabbarov said that the work of the fund would help reinforce the bilateral investment partnership and contribute to the economic development of the two countries through the implementation of "strategic investment projects across Azerbaijan, Oman, Central Asia, and other regions in key sectors such as the food industry, healthcare, renewable energy, consumer goods, and logistics".

AIH writes on its website that it was established in accordance with a presidential decree from August 7, 2020, in order to "advance the management and operation of the state-owned enterprises under it's management according to unified principles, as well as ensuring their investment transparency, economic efficiency, financial sustainability, and competitiveness".

The OIA writes on its website that it has been authorized to manage the assets of the Sultanate of Oman, investing in them and developing them at local and international levels. It has investment funds in every continent, covering a wide range of industries, including food, fishing, energy, logistics, IT, public services, financial and investment services, tourism, mining, manufacturing and aviation.