BAKU, Azerbaijan, September 13. The ceremony of signing the first contract between Azerbaijan’s Alat Free Economic Zone (AFEZ) Authority and the Israeli BioPharmax company has taken place in Baku, Trend reports.
The document was signed by the Board Chairman of AFEZ Authority Valeh Alasgarov and CEO of BioPharmax Sarel Chen-Tov.
In accordance with the document, BioPharmax will open a representative office of its company in Azerbaijan - BioPharmax AFEZCO.
As Alasgarov said, an area of three hectares will be allocated for the Israeli company.
"The company intends to use modern equipment in the production of medical products, and the products will be primarily exported," he noted.
Alasgarov also noted that along with benefits and incentives, a special legal framework and appropriate modern infrastructure have been created for entrepreneurs and investors.
"I’m sure that given all these advantages, the company will manufacture about 50 types of medical products. Also, today's event will become an incentive to attract other Israeli companies to the Alat FEZ," he said.
Another attractive feature of Azerbaijan for both entrepreneurs and investors is that Azerbaijan strictly adheres to the fulfillment of its obligations to third parties.
