AZERBAIJAN, KUWAIT SET UP JOINT INVESTMENT FIRM
Baku, March 30 (AZERTAC). Azerbaijan Investment Company (AIC) and Kuwait Finance House-owned Turkapital Holding Corporation has set up a joint investment firm.
A relevant document was signed today in Baku by AIC Executive Director Afgan Isayev and Turkapital Managing Director Fawwaz Al Eissa.
Isayev said the new company, with an initial capital of $500,000, will mainly focus on attracting foreign investments in non-oil sectors and investing in local businesses, and also provide financial consultancy services.
Some 75% of the firm`s shares will belong to Turkapital, while the rest 25% to AIC. According to Isayev, the company`s capital will be increased to $20 million in the coming two years.
Al Eissa expressed confidence the new venture will help boost investment cooperation between the two countries.
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