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First meeting of working group on creation of Alat FEZ takes place

15 February 2024 10:53 (UTC+04:00)
First meeting of working group on creation of Alat FEZ takes place
Abbas Ganbay
Abbas Ganbay
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The first meeting of the Working Group established on Free Economic Zone (FEZ) Alyat was held. Minister of Economy Mikail Jabbarov, Chairman of the Board of Authorised Structure of Alyat Free Economic Zone Valeh Alaskerov, and representatives of specialised structures took part in the meeting, Azernews reports.

During the event, information was provided on reforms on diversification of the non-oil economy, a favourable business environment, and measures to attract investments. Azerbaijan's growing transit-logistic opportunities were emphasised, and the importance of the Alyat FEZ was noted in this context.

The main objective of the FEZ is to ensure the production of export-oriented products with high added value in accordance with the best management practices.

Among the priority goals are attracting investors, providing services with innovative technologies, stimulating economic development by ensuring cooperation between foreign investors and local companies, and creating new jobs.

Favourable conditions and offered incentives contribute to the growth of investors' interest in the Alyat FEZ. The economic zone will not only bring economic dividends to Azerbaijan, but also strengthen its positions in the region and increase the strategic importance of our country, which plays an important role in the international transport corridors East-West, North-South, and Middle Corridor.

The prospects for the development of Alyat FEZ and the preparation of the roadmap for the activities of the Working Group were discussed at the meeting.

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