BAKU, Azerbaijan, March 5. New grounds for state acquisition of investments in Azerbaijan have been approved, Trend reports.
President of the Republic of Azerbaijan Ilham Aliyev has approved the relevant amendments to the law "On investment activities."
According to the amendment, investments of strategic importance will be acquired by the state in order to prevent exceptional cases that harm the interests of the Azerbaijani state and people or contradict the national interests of Azerbaijan.
Thus, the legal basis for the state acquisition of strategically important investments to prevent exceptional cases that harm the interests of the Azerbaijani state and people or contradict the national interests of Azerbaijan has been formed. For this purpose, the acquisition of investments will be carried out in the general manner, that is, with compensation paid to investors in exchange for the acquisition of investments by the state.
Additionally, the acquisition of strategically important investments by the state for the aforementioned purpose will be carried out in accordance with the laws of Azerbaijan.