Azerbaijan creating new mechanism in construction sector
BAKU, Azerbaijan, April 5
To create a new mechanism for the development and implementation of strategic projects, the Azerbaijan Construction Corporation is planned to be created in the country’s construction sector to accelerate the development of cities and districts, Trend reports referring to the Azerbaijani Cabinet of Ministers.
There is the corresponding information in the "Plan of measures on the implementation of the order # 1950 of the President of Azerbaijan dated March 19, 2020" “On a number of measures to reduce the negative impact of coronavirus (COVID-19) and sharp fluctuations as a result of coronavirus in the global energy market and stock market, on the economy of the Republic of Azerbaijan, macroeconomic stability, issues of employment in the country and business entities".
In accordance with the document, the Corporation must prepare the proposals for the implementation of this issue and other actions, namely, long-term management of the portfolio of strategic projects, as well as the development of new projects; attracting investors to finance these projects; allocation of places by the state for the construction of buildings within new projects and the creation of the necessary infrastructure; implementation of a pilot project envisaging multifunctionality of construction.