SOFAZ, leading Chinese companies discuss expansion of cooperation, investments

Executive Director of the State Oil Fund of Azerbaijan (SOFAZ) Israfil Mammadov has recently completed a working visit to China.

During his visit, Mammadov held several meetings with both government and private sector representatives, Caliber.Az reports, citing SOFAZ. 

At a roundtable discussion with He Lifeng, Vice Premier of the Chinese State Council, and other officials, Mammadov explored potential collaborative opportunities between the sovereign funds of the two nations.

The discussions focused on partnership possibilities, sustainable development practices, and green energy investments. Additionally, Mammadov met with leading figures from various industrial and energy companies in China to discuss expanding cooperation with SOFAZ and exploring investment prospects. 

The State Oil Fund of Azerbaijan (SOFAZ) is a sovereign wealth fund established in 1999. Its primary purpose is to manage and invest the surplus revenue from Azerbaijan's oil and gas sector for the benefit of the nation. SOFAZ invests its assets in a diversified portfolio, including international financial markets, real estate, and other investments. The aim is to achieve a balance between risk and return, ensuring the long-term growth of the fund. The fund receives contributions primarily from the oil and gas sector. SOFAZ engages in international partnerships and investments to enhance its portfolio and achieve its strategic objectives. It actively seeks to collaborate with foreign investors and institutions to explore new opportunities and manage risks.