“ADQ Holding” and the Azerbaijan Investment Holding (AIH) have signed a memorandum of understanding aimed at exploring collaboration opportunities and enhancing mutual developmental goals.
Under the terms of the memorandum, both parties will examine potential cooperation in the financial services sector, focusing on initiatives intended to establish a robust investment framework that supports sustainable growth.
This partnership builds on the joint investment platform launched in December 2023, where both parties committed equal capital to support projects across sectors including agriculture, technology, pharmaceuticals, and energy infrastructure in the UAE, Azerbaijan, and Central Asia, with the potential for expansion into other markets.
Mohammad Hassan Suwaidi, the Managing Director and CEO of ADQ Holding, stated: “The memorandum with the Azerbaijan Investment Holding demonstrates our capability to forge long-term partnerships that benefit all stakeholders, utilize capital effectively, and leverage investment expertise to enhance priority sectors in key geographic areas. This collaboration is crucial for promoting economic diversification, accelerating industrial expansion, and creating promising opportunities to strengthen regional connectivity and improve global competitiveness.”
Ruslan Alihanov, the CEO of Azerbaijan Investment Holding, remarked, “Our partnership with ADQ Holding represents a significant step towards opening new horizons that support Azerbaijan’s ongoing progress. By working together, we aim to direct capital and expertise toward strategic sectors, contributing to a more diversified national growth. This collaboration embodies our ambitions for economic transformation, enhances regional ties, and solidifies Azerbaijan’s position on the global stage.”
Established in 2020, Azerbaijan Investment Holding focuses on managing state-owned enterprises and improving their performance. It plays a vital role in modernizing Azerbaijan’s economy and shaping the long-term growth and prosperity landscape through enhanced governance, efficiency improvement, and targeted investments in essential sectors.
Trade and investment relations between the UAE and Azerbaijan are witnessing continuous growth, with non-oil trade rising by 43% year-on-year, reaching $2.4 billion in 2024.
The UAE is one of Azerbaijan’s key economic partners, with investments exceeding $1 billion, reflecting the strong bilateral relationship that has developed since 1992.