Azerbaijan Investment Holding inks MoU with Chinese company

A Memorandum of Understanding on cooperation has been signed between the Azerbaijan Investment Holding and China's FiberHome Telecommunication Technologies Co., Ltd, Report informs citing Azerbaijani Ministry of Economy.

According to the ministry’s statement, Minister Mikayil Jabbarov, CEO of the Holding Ruslan Alikhanov, and President and Director of the Chinese company Hai Lan participated in the event held in connection with the signing of the MoU.

The event provided information about the national priorities for the socio-economic development of Azerbaijan until 2030, noting that the document sets the goal of turning the country into a space of modern innovations. It was stated that successful cooperation relations have been established with the world's leading companies and important projects are being implemented in order to expand the application of smart technologies in Azerbaijan.

The implementation of the document signed today with a company specializing in telecommunication technologies will strengthen the cooperation between the parties in the areas of smart infrastructure, innovative mechanisms, and information technologies, and will promote business partnership between Azerbaijan and China and encourage the portfolio companies of Azerbaijan Investment Holding to apply advanced business practices, the ministry said.

FiberHome Telecommunication Technologies Co., Ltd. is one of China's giant telecommunication technology companies operating since 1999, as well as one of the world's largest fiber-optic cable manufacturers. The company has a wide product portfolio including optical transmission systems, IP networks, data centers, and modern network infrastructure solutions, and sells products and services in more than 90 countries around the world.