Working visit of the President of Mongolia continuing

2018-09-26 17:59:27

President of Mongolia Khaltmaagiin Battulga is paying a working visit to the Republic of Azerbaijan. The President visited the State Oil Fund, the sovereign wealth fund of Azerbaijan, and got acquainted with its operations Established in 1999, the State Oil Fund of Azerbaijan is mainly responsible for accumulating oil and gas revenues and managing the funds efficiently for the future. The Fund’s Executive Director Shahmar Movsumov welcomed the Mongolian delegation led by President Battulga and introduced the functions of the Fund. On the same day President of Mongolia visit to the Republic of Azerbaijan got acquainted with the operations of the High Tech Park. According to its Executive Director Nazim Shukurov, the High Tech Park, established in 2016 under the Azerbaijan National Academy of Sciences at the initiative of President Ilham Aliyev, aims to increase government assistance in ensuring sustainable economic growth, increasing its competitiveness, expanding modern scientific and technological reform and the scope of high technology, conducting research, introducing new technology, and establishing modern complexes. The Park’s authorities and scientists reported to President Battulga that over 200 types of products had been invented using oil, the main driving force of the economy of Azerbaijan. Moreover, mass production of over 50 petroleum and cosmetic products has begun.

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