TODAY.AZ / Business

Kazakhstan, Azerbaijan create $300m investment fund

12 March 2024 [10:02] - TODAY.AZ
Ulviyya Shahin

Kazakhstan and Azerbaijan plan to establish a $300 million investment fund, Azernews reports, citing Nurlan Jakupov, Chairman of Samruk Kazyna Sovereign Wealth Fund.

He disclosed that the investment fund will finance projects of interest to both countries.

"The fund will also ensure the financing of priority projects in various sectors of the economies of Central Asian countries, Bulgaria, Hungary, Romania, and Turkiye. This will strengthen Kazakhstan's partnership with Azerbaijan and bring income. Because this will be solely a commercially based investment fund," Jakupov emphasized.

It is worth noting that today in Baku, Ruslan Aliyev, CEO of the Azerbaijan Investment Holding, and Nurlan Jakupov, Chairman of Samruk Kazyna Sovereign Wealth Fund, signed a Strategic Partnership Agreement .

It should be noted that direct investments from Kazakhstan to Azerbaijan amounted to $114 million, while investments from Azerbaijan to Kazakhstan amounted to $215 million. Currently, over 200 companies with Kazakh capital operate in Azerbaijan.

More than 50 Kazakh companies have applied to operate in the liberated territories of Azerbaijan.


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