The Economic Council, chaired by Prime Minister Ali Asadov, held a session today to conduct a comprehensive review of the operations, infrastructure requirements, and strategic development prospects of the Alat Free Economic Zone (AFEZ). The discussions also encompassed the role of the service sector in driving economic growth, along with priority directions and proposals for its further development.
Operative Information Center-OMM reported this, citing the Cabinet of Ministers.
According to the official statement, the agenda featured presentations by Shahmar Movsumov, Assistant to the President and Head of the Department for Economic Issues and Innovative Development Policy of the Presidential Administration, and Minister of Economy Mikayil Jabbarov. Members of the Economic Council and Valeh Alasgarov, Chairman of the Board of the Alat Free Economic Zone, also delivered remarks regarding the matters under consideration.
Following the deliberations, the Economic Council adopted relevant decisions, incorporating the feedback and proposals of its members, and issued specific directives to the appropriate government bodies.
The Alat Free Economic Zone, established by the decree of President Ilham Aliyev, serves as a strategic hub designed to attract foreign direct investment and foster non-oil sector growth in Azerbaijan. Located near the Baku International Sea Trade Port, the zone provides a unique legal framework and tax incentives to support export-oriented industrial activities and logistics, playing a pivotal role in the country's broader economic diversification strategy.
