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Azerbaijani President issues order on creation of free economic zone in Alat

17 March 2016 15:36 (UTC +04:00)

The zone will also include the territory of the new Baku International Sea Trade Port.

APA reports that the Ministry of Economy is to submit proposals on creation of free trade zone type special economic area in Alat to the president within six months, as well as submit proposals on improvement of legislation on special economic zones in Azerbaijan by involving international advisors, feasibility study, development concept, infrastructure and management of the creation of the zone, as well as types of entrepreneurial activity and their features to the president.

Ministry of Ecology and Natural Resources, jointly with State Committee for Property Issues and Baku City Executive Power, is to submit proposals on territory of the zone, data on list of land owners and land users in that territory, accurate description of borders of the zone and plan of the territory, compound of the lands, data on opportunities to provide analysis of economic, social and ecological condition, material and labor resources, communications and other infrastructures to the president.

Finance Ministry is to provide funding, the Cabinet of Ministers is to take necessary measures about fulfillment of abovementioned tasks and solve other issues.