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KOICA allocates $ 1mln to â€œDevelopment of Special Economic Zones and Industrial Settlements in Azerbaijanâ€ project

17 October 2011 10:54 (UTC +04:00)

Baku. Vahab RZayev â€“ APA-Economics., Korean Ambassador to Azerbaijan Lee Ji Ha and Minister of Economic Development Shahin Mustafayev have signed a Grant Agreement on allocation of $1 mln by KOICA (Korean International Cooperation Agency) to â€œDevelopment of Special Economic Zones and Industrial Settlements in Azerbaijanâ€.

According to APA-Economics, the loan was allocated for 18 months in 2011-2012.

The project aims to determine the area for location of industrial enterprises, develop the improvement policy and strategy for management and development of industrial spheres, reconsider the law on special Zones and develop the legal and regulating frame to provide the effectiveness of policy implementation in the future, develop the location policy of industry by increasing the institutional and personnel potential and establish new system.