BAKU, Azerbaijan, July 19. Companies from the Czech Republic are hoping for new investment opportunities in Azerbaijan in the sphere of connectivity and energy, Ambassador of the Czech Republic to Azerbaijan Milan Sedláček told Trend.
“Generally, the Czech Export Guarantee and Insurance Corporation and the Czech export bank are ready to support quality and well prepared business projects. Needless to say, anyone who wants to invest money abroad will first want to look at the legal climate of the country in question. In this regard, the conditions guaranteed by the Azerbaijani government for potential investors in the Alat Free Economic Zone are of interest, and our Embassy is also in touch with the Agency for the Development of Economic Zones,” he said.
“Over the previous decade, the most important Czech investment projects in Azerbaijan were in the field of transport infrastructure. Our flagship project, the reconstruction of the Azerbaijani part of the Baku-Tbilisi-Kars Railway Corridor, was completed by a group of our companies led by Moravia Steel in 2019,” the ambassador said.
A pilot project completed by Czech companies in the Garavalli village school in the Shamakhi region in 2018 was aimed at raising awareness about the efficient use of energy resources. Also, the Czech export bank proposed a loan to Azerbaijani government to fund the continuation of the project should the government see it see it as useful, Sedláček added.
Meanwhile, according to the ambassador, the Czech Republic provides tax and other incentives to foreign investors who create jobs in regions with a higher level of unemployment – that is to say, outside Prague. Prospective investors to the economy are advised and supported by the CzechInvest agency.
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