BAKU, Azerbaijan, Oct. 14
Trend:
The Alat Free Economic Zone (FEZ) of Azerbaijan will become the most advanced commercial and industrial zone, where production will also be carried out, Azerbaijani MP, Doctor of Economics, Professor Rufat Guliyev told Trend.
According to Guliyev, the structure of the FEZ will include not only free trade but also modernized production.
“About a year ago, a special law was adopted that will regulate international relations in the FEZ. Projects in the FEZ will operate following international laws, as well as with a special legal status concerning the rest of the state. The activity of the Alat Free Economic Zone will become a technological breakthrough for Azerbaijan,” the MP said.
Guliyev said that currently hundreds of both foreign and local projects are planned within the framework of the Alat FEZ, implementation of which will begin in the near future.
“It is planned to create an appropriate authorized structure that will deal with the creation of infrastructure, personnel training, implementation of projects, solution of environmental problems, and carry out other necessary work,” the MP said.
Guliyev also added that the commissioning of the Alat FEZ will have an impact on the development of the country's economy, including on the growth of GDP, and will expand the export opportunities of the non-oil sector.
On May 22, 2020, President of Azerbaijan Ilham Aliyev signed a decree on the creation and organization of the Alat Free Economic Zone.
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