According to the public relations office of the National Development Fund of Iran,The following is the speech by Hossein Eivazloo, a member of the executive board of the National Development Fund of Iran:

A member of the board of directors of the National Development Fund proposed to the member countries at the BRICS summit to establish a joint fund from the national wealth funds of the BRICS member countries. According to the public relations office of the National Development Fund, Hossein Eyvazlou, a member of the board of directors of the National Development Fund, proposed the establishment of a joint fund from the national wealth funds of the BRICS members at the "International Foresight Association, Smart Civilization" meeting held concurrently with the BRICS summit from July 10 to 11 in Moscow. He stated that the benefits of such an approach allow us to pool our resources and expertise and create powerful financial resources capable of undertaking large projects. Additionally, it enhances greater economic stability and diversity and reduces our collective vulnerability to global economic fluctuations. Ultimately, it increases our geopolitical influence and enables us to play a more significant role in shaping the global economic landscape.

The text of Hossein Eyvazlou's speech, a member of the board of directors of the National Development Fund, is as follows:

Dear distinguished guests, esteemed colleagues, ladies, and gentlemen,

I am honored to address this esteemed gathering at the BRICS Foresight Summit in Moscow. As an Executive Board Member of the National Development Fund of Iran (NDFI), I am privileged to share our vision and experience in fostering cooperation among sovereign wealth funds, which I believe can be a cornerstone for the future prosperity of BRICS nations.

The NDFI, established to ensure sustainable economic development and secure the financial future of our nation, currently manages assets exceeding $162 billion. Initially, the Fund provided loans to the private sector. However, in the past three years, our mission has expanded to include both domestic and international investments.

Our portfolio now includes credit lines, fund of funds, joint funds, and consortium-based projects, often with a project-oriented approach. We have established subsidiary companies to carry out these investments, contributing to the national growth and development of the country.

The NDFI has committed to providing 25% of the financing for an "Artificial Intelligence Development Fund," aiming to foster innovation and technological advancement within our nation.

Additionally, the NDFI has approved joining the BRICS Interbank Cooperation Mechanism (ICM), enhancing our collaborative efforts within the group.

An achievement worth mentioning is the initiative to create sovereign wealth funds among the member countries of the Economic Cooperation Organization (ECO). This initiative has strengthened economic ties within the region and provided a platform for collaborative investments and shared growth.

Furthermore, we advocate for sovereign wealth funds to share information, and experiences, and utilize skilled professionals to maximize investment effectiveness. By leveraging diverse backgrounds and expertise, we can enhance our capabilities and achieve greater economic resilience and prosperity for all member nations.

Today, I propose extending this successful model to our BRICS partners. By creating a network of sovereign wealth funds among our countries, we can unlock immense potential for joint investments, sustainable development projects, and economic resilience. This collaboration can address common challenges, such as infrastructure development, technological innovation, and sustainable resource management.

The benefits of such a collaborative approach are manifold. Firstly, it would allow us to pool our resources and expertise, creating a formidable financial force capable of undertaking large-scale projects. Secondly, it would foster greater economic stability and diversification, reducing our collective Exposure to global economic fluctuations. Lastly, it would enhance our geopolitical influence, enabling us to play a more significant role in shaping the global economic landscape.

In conclusion, I urge my esteemed colleagues and fellow leaders to consider the immense possibilities that lie ahead. Let us embrace this opportunity to build a robust and interconnected network of sovereign wealth funds, paving the way for a prosperous future for all BRICS nations. Together, we can achieve greater heights and ensure a legacy of economic strength and resilience for generations to come.

Thank you.