BAKU, Azerbaijan, June 17. All enterprises
operating in the Alat Free Economic Zone (FEZ) of Azerbaijan must
focus on high-value-added production and export activities,
Chairman of the Board of the Alat FEZ, Valeh Alasgarov, said at the
14th Islamic Development Bank Group Private Sector Forum, Trend‘s correspondent
reports from the event.
He said that enterprises located within the zone are required to
export at least 75% of their output outside Azerbaijan. According
to him, this policy is aimed at preventing unfair competition
between the FEZ residents and domestic market companies. Alasgarov
noted that the success of the Alat FEZ depends on its
competitiveness compared to other free economic zones in the region
and the wider geographic area.
Alasgarov announced that to increase the zone’s attractiveness,
it must be more competitive than similar zones in neighboring
countries. The head of the department emphasized that the key
factor is the FEZ’s strategic location near the Baku International
Sea Trade Port and at the intersection of the East-West and
North-South international transport corridors. This provides
residents with access to various types of transport and logistics
services.
He informed that construction of a cargo airport has begun on
the FEZ territory with the participation of cargo carrier Silk Way
Airlines. The facility is expected to open next year.
“The main goal of constructing the cargo airport is to provide
additional logistics services to companies operating in the Alat
FEZ,” he clarified.
Alasgarov also announced that the availability of air cargo
infrastructure is an important prerequisite for attracting
high-tech companies. He pointed out that zone residents are
provided with ready-made industrial land plots with pre-developed
infrastructure and utilities.
According to him, tax and customs benefits are also available,
including zero corporate taxes and customs duties. Alasgarov
emphasized that the key advantage of the FEZ is its legislative
framework and regulatory environment.
