Korea allots $1m to develop SEZs, industrial parks in Azerbaijan
Korea and Azerbaijan have signed a grant agreement to finance Korea International Cooperation Agency (KOICA) project for developing Special Economic Zones (SEZs) and Industrial Parks (IPs) in Azerbaijan, according to the KOICA Office in Azerbaijan.
KOICA, a Korean government agency, will provide $1 million for the implementation of the 18-month-long project, according to the agreement, signed by Korean Ambassador to Azerbaijan Lee Ji Ha and Economic Development Minister Shahin Mustafayev last Friday.
The objectives of the project are to draw an improved policy and strategy for industrial location and industrial sites development and management conducive to encourage both domestic and foreign investment in Azerbaijan; to revise the law on Special Economic Zones and Industrial Parks and develop further legal and regulatory framework for ensuring the efficiency and consistency of the policy implementation. The project also aims to build institutional and human capacity to develop industrial location policy and establish a new system and institutions of SEZs and IPs development and management.
KOICA is engaged in implementing the Korean government's grant aid and technical cooperation programs. The agency has 43 representative offices in partner countries.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!