SOFAZ delegation visits Italy to explore investment opportunities

A delegation led by Israfil Mammadov, Executive Director of the State Oil Fund of Azerbaijan (SOFAZ), paid a working visit to Italy to explore investment opportunities aimed at strengthening the long-term partnership between the two countries, Report informs.

According to the SOFAZ, during the visit, Mammadov held meetings with several Italian government officials, including Deputy Foreign Minister Edmondo Cirielli, Minister for Business and Made in Italy Adolfo Urso, and Director General of the Department of the Economy at the Italian Ministry of Economy and Finance Marcello Sala. The discussions focused on expanding bilateral relations and deepening mutual investment activities, along with strong economic cooperation between Azerbaijan and Italy.

The delegation of SOFAZ, which has an investment portfolio of $2.3 billion in the Italian capital market, also met with representatives of leading Italian infrastructure companies and investors in the digital, transport, and energy sectors. These included Luigi Ferraris, CEO of FiberCop; Pietro Labriola, CEO of TIM; Orlando Barucci, head of Vitale & CO, and partner Professor Fabrizio Pagani; Stefano Venier, CEO of Snam, and Financial Director Luca Passa; Paolo Ciocca, Chairman of Open Fiber; and Giovanni Gorno Tempini, Chairman of CDP.

During the meetings, discussions were held on the current state of economic and trade relations between the two countries, the promotion of mutual investments, and prospects for cooperation development. The importance of expanding partnership relations in many sectors was emphasized. The parties expressed mutual interest in promoting economic cooperation, sustainable development, and joint investments. The discussions included an exchange of views on areas of cooperation with significant social, environmental, and economic impact that would contribute to further expanding the Azerbaijan-Italy partnership.