The State Oil Fund of Azerbaijan (SOFAR) will get the electronic systems of accounting and portfolio management.
According to the State Procurement Agency, the mission is entrusted to the Danish company Sim Corp Ltd. "The two sides signed a contract for implementation of the relevant works worth 8 million 561 thousand 857.2 manat," the statement says.
Sim Corp Ltd headquartered in Copenhagen was founded in 1971 and specializes in software development.
SOFAR was established on 29 December 1999 and is accountable only to the President of the country. It accumulates revenues from the sale of oil contracts. According to official figures, more than half of the funds have been already spent on non-controlled social and investment projects. --17D-
Economics
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Azerbaijan is set to host its Trade Forum on October 1, supported by “Pasha Holding” and jointly organized by the Small and Medium Business Development Agency (SME), Azerbaijan Customs representation, and the Logistics Companies Association.
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The inaugural Investment Forum on energy transition in Central Asia is set to take place on November 15-16 in Baku, Azerbaijan, organized by the International Renewable Energy Agency (IRENA) and Azerbaijan’s Ministry of Energy as part of the COP29 conference.
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At the advisory meeting of railway administrations held in Baku on September 19-20, Rovshan Rustamov, Chairman of Azerbaijan Railways CJSC (ADY), met with Ufuk Yalçın, General Director and Chairman of the Board of the Turkish State Railways Company "TCDD Taşımacılık." The meeting marked the second time this year that officials have discussed expanding railway transport cooperation between Azerbaijan and Turkey.
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The Center for Analysis of Economic Reforms and Communication (CAERC) has completed its monitoring and evaluation of the first half of the year in relation to the "I State Program on the Great Return to the Liberated Territories of the Republic of Azerbaijan." This state program focuses on restoring infrastructure and resettling displaced populations in areas that were reclaimed during the 2020 Nagorno-Karabakh conflict.
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