Azerbaijan's Alat FEZ eyes receiving first investors, businessmen in mid-2022

By Trend

Azerbaijan’s Alat Free Economic Zone (FEZ) will be able to receive the first investors and businessmen, being ready to organize their activities there, by the middle of 2022, the board chairman of the authorized structure of the Alat FEZ Valeh Alasgarov said, Trend reports on Nov. 17.

Alasgarov made the remark during a business mission of Russian companies for the development of the "Smart City" urban infrastructure in Baku.

"At the next stage, it’s planned to expand the territory of the Alat FEZ and create new opportunities for businessmen," he noted.

Speaking about the conditions created in the free economic zone, the board chairman said that there are no more attractive conditions for doing business anywhere in the world.

"A distinctive feature of the Alat FEZ is that there businessmen are exempted from all types of payments on permanent basis. Besides, our legal framework envisages the exclusion of all potential risks for the businessmen. The framework prevails being the main basis for doing business in the FEZ," he added.

Alasgarov also stressed that government agencies don’t interfere with the activities of the FEZ, either request any information about the companies.

"All business procedures, issuance of licenses, registration of companies, and others are carried out exclusively on the territory of the Alat FEZ by its authorities. We also exempt businessmen from taxes and payments on imported and exported goods," concluded the official.