BAKU, Azerbaijan, June 13. SOFAZ brings to the
CAIP a particular institutional perspective, James Ong, Group Head
of Asset Management, CGS International Securities, said in an
interview with Trend.


He first spoke about the strategic priorities and key sectors on
which CAIP plans to focus during the initial phase of its
operations: Against a backdrop of deepening China–ASEAN trade
integration and accelerating supply-chain realignment across
Southeast Asia, CAIP aims to capture high-quality investment
opportunities in industrial, healthcare, consumer, business
services, technology, and other sectors that drive this structural
shift.


According to James Ong, the scale is substantial. ''Two-way
trade between ASEAN and China reached approximately $1.05 trillion
in 2025, with China remaining ASEAN's largest trading partner.
Chinese outbound investment into ASEAN grew nearly 37% year-on-year
to $34.4 billion in 2024, according to data from China’s Minister
of Commerce — reflecting how rapidly Chinese capital is moving into
the region's manufacturing, technology, and consumer sectors. CAIP
is positioned to invest where these flows create the most
differentiated opportunities for institutional capital.


Now that we have achieved our first close, our next priority is
deployment. We are looking to make the first deployment into a
pan-regional fund in 2H 2026,'' he added.


James Ong also spoke about Azerbaijan’s role in the context of
its participation in the platform through SOFAZ, as well as the
specific opportunities for the country to participate in or lead
certain potential projects within the framework of this
platform.


He stressed that SOFAZ's participation reflects two things:
First, an affirmation of the China–ASEAN corridor thesis — that
this has become one of the most important economic axes in global
trade, and that Southeast Asia remains one of the most dynamic and
promising regions in the world today. Capital from a sovereign
investor outside the corridor itself is a strong validation of the
structural case for this geography.


Second, the growing necessity for sovereign collaboration in
navigating complex global markets. Three sovereign anchors at first
close speak to a multilateral, not unilateral, view of how
institutional capital should be deployed across borders.


The official noted that SOFAZ brings to the platform a
particular institutional perspective: The fund has experience
deploying long-horizon sovereign capital across multiple
geopolitical environments, and a sophisticated approach to
portfolio construction shaped by decades of stewarding
hydrocarbon-driven wealth. At the same time, SOFAZ benefits from
sitting alongside CIC and INA — both institutions with mature
private-investment operations in Asia — and from access to the
institutional learning that comes from operating within a
multi-sovereign architecture. Sovereign collaboration of this kind
is increasingly recognised as a model that benefits every
participating fund, not a one-directional capital flow.


In addition, Ong talked about CAIP's long-term goals, as well as
new projects that could further strengthen cooperation between
China, the ASEAN countries, and Azerbaijan.


''The Programme sits within the broader context of the deepening
commitment to shared development and stability between China and
ASEAN. It is a practical vehicle for channelling long-term
institutional capital into the China–ASEAN economic corridor. The
fact that the first close brings together sovereign investors from
China, Southeast Asia and a Eurasian sovereign fund underscores the
multilateral confidence in this corridor's potential.







CAIP will support Chinese enterprises ready to expand into ASEAN
markets with clear strategies, competitive capabilities, and
long-term vision. These companies are looking not only to grow, but
to integrate more deeply into regional and global value chains. At
the same time, the platform taps into meaningful opportunities to
work with ASEAN enterprises that can benefit from deeper
collaboration with China — through access to technology,
enhancement of supply chain capabilities, or the development of new
business models.


In this regard, the Programme is not simply about capital
deployment. It is about building enduring commercial linkages
between markets, industries and ecosystems within the China–ASEAN
corridor,'' he emphasized.


The company representative noted that, more broadly, the
deepening economic ties between China, Southeast Asia, and Central
Asia are reshaping how institutional capital thinks about Asian
deployment.


''The relationship between CGS International and SOFAZ — like
the relationships with our other sovereign partners — extends
beyond any single fund. As regional capital flows evolve, we expect
natural opportunities for continued institutional dialogue and,
where mutually beneficial, collaboration in forms appropriate to
the strategic interests of both sides,' he added.


In April of this year, the State Oil Fund of the Republic of
Azerbaijan (SOFAZ), the China Investment Corporation, and the
Indonesian Investment Authority jointly established the China-ASEAN
Galaxy Orientis Investment Platform ("CAIP" or the Program). The
Platform is a sovereign direct investment platform aimed at
implementing long-term investment opportunities between China and
the ASEAN region. The Program has raised approximately $520 million
in initial funding, with a total target of $1 billion.


The platform operates under the joint management of three
sovereign wealth funds to facilitate capital inflows and strengthen
industrial cooperation between China and the ASEAN region. Against
the backdrop of deepening trade relations between China and ASEAN
and the restructuring of supply chains in Southeast Asia, the
Program aims to identify high-quality investment opportunities in
sectors such as industry, healthcare, consumer goods, business
services, and technology.


CGS International Securities serves as the managing partner of
the CAIP program. The program’s lead partner is CGS International
Securities Pte. Ltd., the international division of China Galaxy
Securities, which supports the platform’s operations with its
extensive regional expertise, operational infrastructure, and
existing networks across Southeast Asia.


CGS International Securities Pte. Ltd. ("CGS International") is
an international operating subsidiary of CGS and is responsible for
the company’s global business development. Leveraging CGS’s strong
institutional foundation and deep market knowledge on a global
scale and within ASEAN countries, CGS International provides a wide
range of services, including securities trading, asset management,
investment banking, research, fixed-income operations, foreign
exchange and commodities trading, structured finance products, and
brokerage services. The company operates in more than 10 countries
and regions.