Azerbaijani Ministry Develops Priority Directions to Establish Special Economic Zones

Business Materials 13 April 2007 11:15 (UTC +04:00)

Azerbaijan, Baku, /corr. Trend I.Khalilova / Heydar Babayev, the Minister for Economic Development, stated on 12 April that the Ministry of Economic Development finalized, as a priority, the course of action and proposals to establish special economic zones in the country.

"In accordance with the presidential decree, these should be developed within a month. The Ministry has submitted its proposals to the President's Executive Power," the Minister noted.

The resolution aims at establishing favorable conditions to develop separate regions in the country, promote investments and their use in the areas of priority, opening of new jobs, use of experience in governance and the tendering of competitive goods and services.

The Ministry of Economic Development is in charge of implementing the state policy in the establishment and functioning of the special economic zones.

The Cabinet of Ministers is also in charge of developing and submitting to the President a bill on Special Economic Zone, draft Rules on relevant special economic zones, proposals on privileged tax and customs regime and currency regulating within these zones, draft simplified rules on customs control and activities of customs places, as well as official registration of goods and regime on passage of transport conveyances and physical persons to the special economic zones.