In 2006, the State Oil Fund of the Republic of Azerbaijan (SOFAZ) allocated AZN 90 000.0 thousand to form up the statutory capital of the Azerbaijan Investment Company, established under the Presidential Decree dated March 30, 2006.

The primary objective of the Company’s investment activity is to ensure long-term investment of resources by acquiring equity investments as well as shares in joint-stock companies and other commercial entities, operating in the non-oil sectors of the country’s economy.

The newly launched investment company has led to a start of an advanced, state-of-the-art investment mechanism in the country. Implementation of this new mechanism will enable the state, on one hand, to stimulate growth for the enterprises, as well as fulfill the investment policy designed to promote non-oil sectors, and, on the other hand, to preserve and maintain the proportionality and equitability between the public and private sector ownership. The company’s equity and bond issuing activities will help to foster the domestic securities market as well as support the development of corporate governance forms. The dividends gained through the company’s shares in the enterprise equities will be transferred to the state, in this case - SOFAZ’s account. This in return results in an additional source of income and expanded resource base for SOFAZ.

For more information about the Company, please visit website www.aic.az.