Abu dhabi: ADQ, a sovereign investor focused on infrastructure and global supply chains, and Azerbaijan Investment Holding (AIH) have signed a Memorandum of Understanding (MoU) to explore collaborative opportunities aimed at advancing shared development goals. The agreement will see both entities examining prospects in the financial services sector, with an emphasis on initiatives that enhance market connectivity and foster a robust investment ecosystem to support sustainable growth.
According to Emirates News Agency, this partnership builds on a joint investment platform launched in December 2023, where ADQ and AIH committed equal capital to advance projects in agriculture, technology, pharmaceuticals, and energy infrastructure across Azerbaijan, the UAE, and Central Asia, with potential expansion into other markets. Mohamed Hassan Alsuwaidi, Managing Director and Group CEO of ADQ, emphasized the significance of the agreement by highlighting ADQ’s strategy of deploying capital and investment expertise to promote priority sectors across key regions, thus driving economic diversification and industrial expansion.
Ruslan Alikhanov, CEO of Azerbaijan Investment Holding, expressed optimism about the partnership, noting that it unlocks new opportunities for Azerbaijan’s progress. The collaboration aims to channel capital and expertise into key industries, fostering diversified growth and positioning Azerbaijan as an active global participant. Established in 2020, AIH plays a strategic role in managing and improving the performance of state-owned enterprises, contributing to Azerbaijan’s economic modernization and long-term growth.
The UAE and Azerbaijan continue to strengthen trade and investment ties, with non-oil trade rising by forty-three percent year-on-year, reaching US$2.4 billion in 2024. The UAE has become a significant economic partner for Azerbaijan, with investments exceeding US$1 billion, reflecting a robust bilateral relationship that has persisted since 1992.