Azerbaijani SOFAZ intends to simplify access to database of foreign capital market

Business Materials 7 February 2014 20:03

Baku, Azerbaijan, Feb.7

By Emil Ismayilov - Trend:

The State Oil Fund of Azerbaijan (SOFAZ) has announced a tender for the selection and installation of analytical software to access the database on investments in private equity in foreign capital markets, the fund said on Feb.7.

Tender bids should be submitted by 18:00, March 14, 2014. Opening of bids will take place at 11:00 on March 15, according to the fund.

For obtaining the collection of basic conditions and further details, please contact the following contacts:

Azerbaijan, Baku, Oil Workers Avenue, 24, AZ 1000.

Tel.: (+ 994 12) 498 77 53 (extension 203).

Fax: (+ 994 12) 490 57 32.

Email: [email protected]

Contact person: R.Khalilov.

The State Oil Fund was founded in 1999, and at that time its assets amounted to $271 million. As of January 1, 2014, SOFAZ assets increased by 5.1 percent compared to early 2013 ($34.129.4 billion) and amounted to $35.877.5 billion.

The geography of placement of the fund's assets is as follows: some 56.82 percent - in European countries, 19.31 percent - in North America, 15.7 percent - in developing countries, 9.47 percent - in the Asia-Pacific region, 1.5 percent - the Middle East, 5.03 percent - South America, 7.86 percent - international financial organizations.

The main goals of the State Oil Fund include: accumulation of resources and the placement of the fund's assets abroad in order to minimize the negative affect on the economy, the prevention of "Dutch disease" to some extent, promotion of resource accumulation for future generations and support of current social and economic processes in Azerbaijan.

Translated by L.Z.

Edited by C.N.