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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

SOFAZ’s assests equal to half of country’s GDP

Posted on 04 September 2013

The Azerbaijani state oil fund SOFAZ is one of the components of the country’s oil strategy, SOFAZ Executive Director Shahmar Movsumov said at the second forum “South Caucasus in a Changing World” of the Association of Scientists for International Relations, organized by the Center for Strategic Studies under the President of Azerbaijan held in Baku.
“After the country gained independence, one of the problems was the development of oil industry. The national oil strategy of Azerbaijani national leader Heydar Aliyev became a response to these challenges. As a result, it became possible to increase oil production significantly in a short time………………………………………..Full Article: Source


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