Azerbaijan Investment Company Works on Draft of New Development Strategy
The Azerbaijan Investment Company (AIC) was restructured and therefore its internal structure was updated, according to Azerbaijan in Focus, reporting Turan News, with reference to the Ministry of Economy, the holder of shares of this investment company on behalf of the state.
As part of the restructuring process, work began to develop a new investment and risk management policy. Work is underway to define a new development strategy, strengthen and optimise the investment portfolio, as well as improve the AIC investment rules.
Currently, AIC participates in the capital of several companies operating in the field of investment, agriculture and processing, shipbuilding, and production of disposable syringes. AIC’s share capital is 224 million manats. The company does not disclose financial statements, therefore, it is not known about the amount of dividends paid to it or investment losses. The last time the company entered the capital of Diamed Co LLC (29% equity participation) was in 2017.
Azerbaijan Investment Company JSC was established in 2006 at the expense of the State Oil Fund in order to support the non-oil sector of the economy through participation in capital.