Abu Dhabi's sovereign wealth fund, ADQ, has entered into a significant partnership with Azerbaijan Investment Holding to establish a joint investment platform with a total commitment of $1 billion.
In a historic move, both ADQ and Azerbaijan Investment Holding have pledged $500 million each to create this joint venture. This collaboration is poised to make a substantial impact on various sectors of mutual interest.
The joint investment platform, a true testament to international cooperation, will see both entities holding an equal 50% stake in the venture. The primary focus of this partnership is to channel investments into sectors that align with the priorities and interests of both nations.
Key sectors earmarked for investment include agriculture, technology, pharmaceuticals, and energy infrastructure. This strategic alliance aims to harness the strengths and resources of ADQ and Azerbaijan Investment Holding to drive innovation and economic growth.
The Framework Agreement on Joint Investments was officially signed during a ceremony attended by high-level officials. Representing Azerbaijan, Minister of Economy Mikayil Jabbarov joined hands with Minister of Investment of the United Arab Emirates, Mohamed Hassan Alsuwaidi, in a historic moment that solidifies the commitment to collaborative investments.