Azerbaijan, Baku / Trend , corr. U. Ismayilova/ Ogtay Akhverdiyev, Chief of the Economic and Financial and Credit Policy of the Apparatus of the Azerbaijan Cabinet of Ministers, said today that the objective to establish special economic zones in Azerbaijan will involve investors with advanced technology.
Notably, on 6 March, Azerbaijan's President, Ilham Aliyev, issued a Decree for the Establishment of Special Economic Zones in Azerbaijan.
"As far back as in the early 1990s, Azerbaijan attempted to establish special economic zones. In 2003, there was a corresponding draft, upon which corresponding offices and agencies agreed, but the mentioned draft failed due to certain objective reasons," Mr. Akhverdiyeva.
According to Mr. Akhverdiyeva, in comparison to other free economic zones, Azerbaijan's special economic zones will not be fully exempt from taxes.
Notably that there are about 700 free economic zones worldwide today.