Azerbaijan, Baku, Dec. 7 / Trend D. Nasibova /
To date, Azerbaijan Investment Company (AIC) has invested 90 million manats in the country's economy, the company's CEO Rovshan Najaf told Trend.
"At the moment, our company has invested 90 million manats in various projects in Azerbaijan, and a total of more than 900 million manats have been invested by local and foreign investors in projects with AIC", Najaf said.
According to him, the company has invested in agricultural projects such as poultry farming, the Devechi Broyler and a modern plant on processing and planting high quality Azertokhum seeds.
"The Agstafa Agroservis LLC recently opened in the Agstafa region and is specializing in the provision of integrated services to local agricultural facilities, and a new shipyard plant which is set to open by the end of next year. Holcim Azerbaijan (Formerly Garadagh Cement), which launched a new modern factory with perfect dry cement technology and clinker production capability, is increasing its volume of production while reducing energy consumption and emissions, this should be noted along with other AIC agricultural projects" Najaf said.
The Executive Director of the AIC noted that the company's activities in the food industry are represented by the largest manufacturer of Azərduz iodized salt and producer of dairy Milk-Pro, offered to the public under the brand Sevimli Dad.
In addition to direct investments in the real economy, AIC also establishes a joint investment fund. In 2008, the Islamic Corporation for the Development of the private sector and private investors from the Gulf together with the Islamic Development Bank established JSC Caspian International Investment Company, which, in turn, invests in a number of projects in various sectors, such as agriculture in Samukh region and in the construction and agricultural sector in the Absheron region.
AIC was established by the order of the president of the country on March 30, 2006. The only founder of the company is the Ministry of Economic Development. Despite only a short period of activity, AIC, along with local and foreign investors was able to carry out several major projects. The main objectives of the AIC, along with investments in non-oil sectors of the economy, are the attraction of innovative technologies and "know-how", the introduction of corporate governance standards and international financial reporting standards in the invested companies.
Official exchange rate on Dec 7 is 0.7848 AZN/USD