BAKU, Azerbaijan, Dec.27
By Fidan Babayeva – Trend:
The State Oil Fund of Azerbaijan (SOFAZ) will direct over 33,000 manat ($19,411) to purchase a one-year extension of the VMware technical support service for a virtual platform operating on information technology systems, Trend reports with reference to the ‘Electronic Procurement" portal.
According to the portal, SOFAZ has signed relevant contracts with ‘BAKINITY DISTRIBUTION’ LLC.
The winning company will be paid 33,373 manat ($19,631).
SOFAZ was established in 1999, at that time its assets were $271 million.
According to the SOFAZ regulation, its funds can be used for the construction and reconstruction of strategically important infrastructure facilities, as well as for solving important national problems.
The main goals of SOFAZ are an accumulation of funds and placement of the fund's assets abroad in order to minimize the negative impact on the economy, accumulation of funds for future generations, and maintaining the current socio-economic processes in the country.
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