BAKU, Azerbaijan, September 21. Prospects for
cooperation between the Islamic Development Bank (IsDB) and the
Alat Free Economic Zone (AFEZ) have been discussed.


This was announced in a statement published by the Alat Free
Economic Zone (AFEZ)


According to AFEZ, a delegation from the Islamic Development
Bank visited the Alat Free Economic Zone.


During the meeting, AFEZ Board Chairman Valeh Alesgerov gave a
detailed presentation on the strategic role of the zone, describing
it as an important industrial, logistics and investment hub in the
region.


The delegation was briefed on large-scale infrastructure works
being carried out in the zone, including the development of
transport links and the establishment of utility networks,
engineering systems and modern industrial facilities.


During the visit, the sides exchanged views on prospects for
future cooperation. Both sides stressed the importance of
strengthening cooperation and exploring mutually beneficial
opportunities to promote sustainable economic development and
attract long-term investment.







One of the main areas of AFEZ's activity is creating a business
environment tailored to investors' needs for the establishment and
development of export-oriented manufacturing facilities that
generate high added value. The zone's operating concept provides
for fiscal and non-fiscal incentives for investors, modern
infrastructure, and a separate legal and regulatory framework.


AFEZ's objectives include contributing to the development of
Azerbaijan's knowledge- and innovation-based, internationally
competitive and diversified economy. In this context, expanding
high-value-added, export-oriented production and increasing access
to modern energy, transport and logistics infrastructure are among
the priorities.


Moreover, AFEZ aims to expand the use of new business approaches
and technologies by local businesses, support the development of
innovative enterprises and create added value in the economy.


The meeting discussed the aforementioned areas in the context of
identifying potential areas for future cooperation between the
Islamic Development Bank (IsDB) and AFEZ.