Minister: Azerbaijani Investment Company records portfolio growth

By Azernews

By Ayya Lmahamad

The investment portfolio of the Azerbaijani Investment Company for 2021 increased by 12 percent, Economy Minister Mikayil Jabbarov said, Azernews reports.

The minister noted that the portfolio growth was recorded as a result of the improvement of the activity and efficiency of the company.

"As a result of the improvement of the activity and efficiency of the Azerbaijani Investment Company (@AIC_OJSC), the company's #investment portfolio for 2021 increased by 12% and the net profit of the last two years amounted to 11.8 mln. ?," Jabbarov wrote on his official Twitter page.

The Azerbaijan Investment Company (AIC) was established by a presidential decree in March 2006. All shares of the AIC are owned by the government of Azerbaijan.

The company is governed by a Supervisory Board appointed by the Ministry of Economy. The main economic purpose of the AIC is capital investments in the non-oil sector of Azerbaijan. AIC's key strategic priority is to maximize value for the economy and investors by providing expertise and capital for high-value-added industries and projects in Azerbaijan.