BAKU, Azerbaijan, December 24. The State Oil Fund of Azerbaijan (SOFAZ) currently holds assets exceeding $60 billion, which is equivalent to 80 percent of the country’s economy, SOFAZ Chief Executive Officer (CEO) Israfil Mammadov said at the annual meeting dedicated to the 25th anniversary of the fund's establishment, Trend reports.
He pointed out that the revenues from managing the fund’s assets have already exceeded $15 billion.
"These figures reflect the investment policy of SOFAZ, based on a successful operating model, a strategic approach, and a risk management mechanism that aligns with international standards. The fund not only improves financial results but also plays a key role in sustainable development, safeguarding the interests of future generations. It invests in projects that strengthen Azerbaijan's position on the global economic stage," he emphasized.
The event also featured speeches from various structural units of the fund, which outlined SOFAZ's achievements over the past 25 years. The discussions focused in detail on projects, investment strategies, and management principles aimed at making a sustainable and long-term contribution to the country’s economy.
Speaking about future prospects, the speakers highlighted priority areas such as sustainable development, expanding international cooperation, and active participation in global investment platforms.
To note, since its establishment, SOFAZ has played an important role in ensuring the economic sustainability of the country, both through a solid foundation and a flexible approach to management. With the support of President of Azerbaijan Ilham Aliyev, SOFAZ today successfully continues to function as one of the main economic pillars serving the interests of current and future generations.
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