The Azerbaijani Minister of Economy, Mikail Jabbarov, called for the establishment of a joint sovereign investment fund between Saudi Arabia and Azerbaijan.
According to the Saudi Press Agency (SPA), the fund would further boost the investment opportunities in the most important sectors for both countries.
This suggestion was part of a joint meeting between Jabbarov and Hassan Al-Huwaizi, President of the Federation of Saudi Chambers (FSC), on the sidelines of FSC delegation’s visit to Azerbaijan.
During the meeting, Jabbarov emphasized that the Kingdom’s largest companies such as Aramco, SABIC, Aquapower and several tourism companies have strong presence in Azerbaijan.
This fact serves as concrete evidence of the strength and attractiveness of the Azerbaijani investment environment.
Meanwhile, Al-Huwaizi stressed the necessity to sign an agreement to protect the current investments and ensure a more supportive environment for future investments between both countries.
Other discussions concentrated on how to foster the presence of Saudi investments in the Azerbaijani market through various sectors including oil, renewable energy, industry, mining, tourism, infrastructure, agriculture and livestock.
Moreover, the meeting featured other fundamental discussions revolving around how to empower Azerbaijani companies to implement major infrastructure projects in the Saudi market and export food products to the Kingdom.
Thus, both sides agreed on the necessity to provide incentives and facilities to Saudi investors encouraging them to embark on investment projects in free economic zones in Azerbaijan.
These meetings and discussions are part of FSC’s visits to Azerbaijan and Georgia to boost investment opportunities.
Al-Huwaizi is set to hold high-level meetings and discussions with government officials and private sector leaders in both countries to build strategic trade partnerships.
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