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.
