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Kick-off meeting held on project for â€˜Developing Special Economic Zones (SEZs) and Industrial Parks (IPs) in Azerbaijanâ€™

13 December 2011 13:48 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. Kick-off meeting for the KOICA (Korea International Cooperation Agency) project for â€˜Developing Special Economic Zones (SEZs) and Industrial Parks (IPs) in Azerbaijanâ€™ was today held in the Government House.

On behalf of the Government of the Republic of Korea, KOICA will provide the project budget which is US $1,000,000 (one million US dollars) for the implementation of the project during 18 months during 2011 to 2012.

The objectives of the project are 1) 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, 2) 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, 3) to build institutional and human capacity to develop industrial location policy and establish new system and institutions of SEZs and IPs development and management.

Korea International Cooperation Agency (KOICA) is a government agency of the Republic of Korea implementing the government’s grant aid and technical cooperation programs. KOICA has 43 representative offices in partner countries.