Baku, Azerbaijan, May 10
By Maksim Tsurkov – Trend:
The free economic zone (FEZ) in Azerbaijan will be very successful, said Michael Proffitt, director and CEO of Dubai Logistics City.
He made the remarks on the sidelines of the World Ports Conference 2018 of the International Association of Ports and Harbors (IAPH) in Baku on May 10.
Proffitt said he worked with Taleh Ziyadov, head of the Baku International Sea Port, on the concept of a free economic zone at the initial stages of its formation.
Saying he assisted Ziyadov in developing a plan and putting it into practice, Proffitt noted that he visited Baku several times to work on the site.
He thinks the free economic zone in the new Baku Port in Alat is very important for turning Azerbaijan into a logistics hub.
Proffitt said the country's parliament passed a law on the FEZ, so a legal framework has already been established.
Further it is necessary to develop the infrastructure, he said.
Proffitt said that for Baku it is very useful to take advantage of Dubai's experience in this area.
All processes and procedures, available knowledge simply need to be adapted and applied in realities of Baku, Azerbaijan, the region, he said.
He highly appreciated Baku's chances of becoming a regional logistics hub.
A legal framework and necessary infrastructure, a correct assessment of the needs of customers and proposals that may be of interest to investors - these are what is needed to fulfill this task, he said.
Establishment of an infrastructure at the FEZ is also important, but all this will take a little time, Proffitt said, adding that enterprises for packaging and completion of products will be established, which will create added value, contributing to opening of a large number of workplaces, and ultimately having a favorable effect on the country's economy
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