SOFAZ attracts provider of technical support services
By Trend
The State Oil Fund of Azerbaijan (SOFAZ) has attracted a provider of technical support services for information security systems and Radware’s licenses for one year, said a message posted on the website of the State Service for Antimonopoly Policy and Consumer Rights Protection of the Azerbaijani Ministry of Economy.
Azerbaijani R.İ.S.K. IT-company won the tender. A contract worth over 214,000 manats was signed with the company June 21, 2017.
As part of the contract, R.İ.S.K. will provide technical support for security systems and reveal attacks on the network infrastructure.
SOFAZ was established under the Presidential Decree, dated December 29, 1999, "On Establishment of the State Oil Fund of the Republic of Azerbaijan".
The main purpose of the establishment of the Fund was to preserve and multiply the income derived from oil, create an excellent economic base, taking into account social needs, the requirements of economic progress and development of the country. Besides, the challenge ahead is to protect the country's economy from possible negative influences caused by the growth of foreign exchange earnings and avoidance of damage to financial discipline.
The total volume of SOFAZ investment portfolio amounted to $33.2 billion as of April 1, 2017, or 99.98 percent of total assets.
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