BAKU, Azerbaijan, November 17. The fact that the International Forum of Sovereign Wealth Funds' institutional management and accountability standards have been reflected in the activity of the State Oil Fund of Azerbaijan (SOFAZ) creates a foundation for the fund's role in the country's investment policy as well as the maintenance of macroeconomic stability, Trend reports citing the Executive Director of the SOFAZ, Israfil Mamedov.
"This forum creates a successful platform to demonstrate the long-term development potential and development directions of the state to large institutional investors within the next 2030 as well as within the socio-economic strategy for 2022-2026," said Mamedov.
According to Mamedov, about 50 representatives of more than 35 financial institutions and institutions of development took part in the annual meeting of the International Forum of Sovereign Wealth Funds that is held under the chairmanship of SOFAZ.
The International Forum of Sovereign Wealth Funds was established at the international workgroup meeting on April 5-6, 2009. The first official meeting of the forum was held in Baku on October 8-9, 2009.