Azerbaijan creating new structure for Alat Free Economic Zone

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A joint meeting of two Azerbaijani parliamentary committees – the committee on natural resources, energy and environment and the committee on economic policy, industry and entrepreneurship was held in Baku on Sept. 23, Trend reports.

Deputy Chairman of the Azerbaijani Parliament, Head of the Parliamentary Committee on Natural Resources, Energy and Environment Valeh Alasgarov stated that the bill on amending the law “On the Alat Free Economic Zone” was included in the agenda.

He stressed that a new 32nd article “Transitional Provisions” is proposed to be included in the bill. According to the article, before the plenipotentiary structure of the Free Economic Zone and its board are established, their rights and obligations are carried out by a temporary management structure created by the corresponding executive body.

An appropriate authorized structure that will deal with the issues of creating infrastructure, personnel training, project implementation, solving environmental problems and performing other necessary work must be established to address the organizational issues in the territory of the Free Economic Zone.

This amendment envisages the acceleration and more efficient operation of the Alat Free Economic Zone.

Azerbaijani MPs Vahid Ahmadov, Rufat Guliyev, Ali Masimli and Javid Gurbanov delivered speeches on this issue. It was noted that the beginning of the work of the Alat Free Economic Zone will have an impact on the development of the economy, including the GDP growth.

Following the discussions, the document “On Amending the Law of Azerbaijan “On the Alat Free Economic Zone” was recommended for consideration at the plenary meeting of the Azerbaijani parliament.