Azerbaijan, Baku / corr Trend A.Badalova / The first location for the establishment of a special economic zone (SEZ) in Azerbaijan is likely to be assigned near Alat, said Heydar Babayev, the Azerbaijani Minister for Ecoomic Development, on 21 November.
"We have determined the place for the first special economic zone and our proposal has been sent to the President's Executive Power and the Cabinet of Ministers. The economic zone that we propose is mainly linked with the activities of the port. Respectively, the place should be near the port," the Minister said.
At this port location, a ship-building factory is planned, as well as other work financed through foreign investment.
The proposed bill on the SEZ, which is currently under the consideration of the Cabinet of Ministers, envisions the establishment of production, infrastructure, innovation, combined business zones, and free trade zones. To make the system flexible, the document indicates the possibility of establishing other SEZ's.