Azerbaijan, Baku / corr. Trend U.Ismaylova / The President of Azerbaijan's State Concern AZAL, Jahangir Askerov, said on 16 May during the two-day Caspian Air Cargo Summit-2007 that transforming Azerbaijan's Heydar Aliyev International Airport into a special economic zone will provide an opportunity to invest nearly $300 mln into its development.
In March the President of Azerbaijan, Ilham Aliyev, issued a decree to establish special economic zones in Azerbaijan. The decree stated that the special economic zones envisage the creation of favorable conditions to develop Azerbaijan's economy, support and direct investments areas of priority, creating new workplaces, applying modern management experience, manufacturing competitive products and services. The Ministry of Economic Development has been given the responsibility to define the State policy to establish special economic zones.
According to Askerov, there are potential companies to allocate these investments to. "As soon as the presidential decree was made to establish special economic zones in Azerbaijan, we have been devising a suitable project. After working out the plan we will carry out work on its transformation," Askerov said.