GUBA, Azerbaijan, May 21. The Azerbaijan Uzbek Investment Company (AUIC) currently has more than 10 projects, the Executive Director of the Azerbaijan Export and Investment Promotion Agency (AZPROMO), Yusif Abdullayev, said during the II Azerbaijan-Uzbekistan Interregional Forum in Guba today, TurkicWorld reports.
"Uzbekistan is investing in the mutual fund with Azerbaijan. We are very hopeful to implement more and more new projects," he emphasized.
Abdullayev pointed out that another major event is planned to be held by the end of the year.
"An intergovernmental commission will be held in July, and President of Azerbaijan Ilham Aliyev is expected to visit Uzbekistan in August," Abdullayev added.
According to him, this visit will mark a new stage in the development of relations between the two countries.
To note, AUIC, with its initial committed state-funded capital of $500 million, was founded in accordance with the mutual decision of the Presidents of Azerbaijan and Uzbekistan.
The main objective of AUIC is to invest in private businesses contributing to the development of the economies of Uzbekistan, Azerbaijan, or both in exchange for a non-controlling equity share.
