Alat free economic zone welcomes Chinese enterprises to invest and start business

"The free economic zone of the Republic of Azerbaijan is a new important opportunity to strengthen and deepen the economic relations between Azerbaijan and China." Akram Jenali, the ambassador of Azerbaijan to China, said recently at the promotion meeting of the free economic zone of the Republic of Azerbaijan and the Sino Arab business exchange salon event that Chinese enterprises have great investment potential and diverse opportunities in Azerbaijan, and welcome Chinese enterprises to invest and start business in the free economic zone of the Republic of Azerbaijan.
Azerbaijan is located in the heart of the Eurasian continent and is an important country along the ancient Silk Road. It is also a transportation hub connecting the Eurasian region and has unique geographical advantages. Akram Jenali said that Azerbaijan is one of the first supporters of the "the Belt and Road" initiative, and has invested heavily in infrastructure projects in its own country and relevant countries in the region in the process of jointly building the "the Belt and Road". As a transportation hub in the Eurasian region, its goal is to become a regional transportation and logistics center.
Azerbaijan has close economic and trade cooperation with China. According to Akram Jenali, in 2022, Azerbaijan's trade volume with China reached 2.2 billion US dollars, a year-on-year increase of 21%, and China remains Azerbaijan's fourth largest trading partner. At present, there are over 200 Chinese enterprises registered in Azerbaijan, and the number has been increasing year by year, covering fields such as industry, energy, infrastructure, information technology, trade, agriculture, etc. China's investment in Azerbaijan has exceeded 920 million US dollars, and Azerbaijan's investment in China has also reached 1.7 billion US dollars.
The President of the Alat free economic zone Authority, Valeh Arasgarov, also led a delegation to China for exchange and promotion. He stated that in addition to tax and customs incentives, factors such as legislation that attracts investors, independent regulatory agencies, streamlined customs operations, simplified customs clearance procedures, and transportation and logistics infrastructure are equally important for investors. Alat free economic zone has formulated a package plan to attract investors. Its uniqueness is mainly reflected in three aspects:
One is to have national policy support. Alat free economic zone is an important part of the overall economic development policy of Azerbaijan. Its goal is to become a highly competitive participant in international economic and trade activities, aiming to create high added value for the diversified export-oriented economy with world-class business environment and modern energy, transportation and logistics infrastructure.
Secondly, it has geographical advantages. The Alat free economic zone is located at the intersection of the international transport corridor near the Baku International Maritime Trade Port, providing a good strategic position for international economic and trade exchanges.
The third is to enjoy the exclusive legal provisions of the economic zone. The legal framework for the development, operation and governance of the free economic zone of the Republic of Azerbaijan is based on the Law of the free economic zone of the Republic of Azerbaijan (hereinafter referred to as the free economic zone Law), which was passed by the Parliament and signed by the President of Azerbaijan. The internal regulations of the free economic zone issued by the Administration of the free economic zone of the Republic of Azerbaijan are an important part of the law. At the same time, the laws and regulations of the free economic zone, which are composed of the free economic zone Law and internal regulations, take precedence over the basic economic laws and regulations.
The reporter of China Trade News learned from the promotion meeting that the internal regulations of the free economic zone include dozens of regulations, including company regulations, certificate of origin regulations, licensing regulations, electronic signatures and electronic transactions regulations, employment regulations, immigration regulations, environmental regulations, planning and construction regulations, dispute resolution regulations, etc., which provide legal protection for foreign enterprises in all aspects of investment and business in Azerbaijan. In addition, investors in the free economic zone of Alat also enjoy a variety of rights and interests. If no partner of Azerbaijani nationality is needed, there is no restriction on currency transactions or profit repatriation, and business procedures such as evaluation, registration, licensing, etc. are handled in a one-stop manner on site, so as to relieve investors of worries about the future.
As one of the organizers of this event, the China Chamber of Commerce for Import and Export of Mechanical and Electrical Products is committed to leveraging its own advantages and bridging the economic and trade cooperation between the two countries.
We will take this promotion event as an opportunity to strengthen communication and exchange between the two sides in park planning, operation, and construction, and deepen practical cooperation in industrial parks between China and Albania. "Zhang Yujing, President of the China Chamber of Commerce for Import and Export of Mechanical and Electrical Products, said that the China Chamber of Commerce for Import and Export of Mechanical and Electrical Products will connect with Chinese enterprises interested in investing in the park and invite park and embassy officials to participate in business activities organized by the Chamber of Commerce in China, Promote the Alat free economic zone through multiple channels, and organize enterprises to visit the park in Azerbaijan. At the same time, he also suggested that the Alat free economic zone keep close working contact with the Chamber of Commerce for Machinery and Electronics, collect and sort out various needs and cooperation information of the Arab side, organize precise docking between enterprises of both sides, and promote practical cooperation between enterprises of the two countries.
On the spot of the promotion meeting, the enterprises attending the meeting all looked forward to reaching cooperation with the free economic zone of Alat. The relevant person in charge of China National Technology Import and Export Corporation under General technology Group said that the company mainly focuses on advanced manufacturing, health care, international trade and other sectors, and is currently promoting overseas investment projects in the field of clean energy. The park planning of Alat free economic zone is very attractive to investors, and we hope to carry out extensive cooperation with the park in gas, hydropower, photovoltaic and other fields in the future. The relevant person in charge of the China Eurasian Economic Cooperation Fund said that, as one of the important equity investment platforms to promote the "the Belt and Road" initiative, the China Eurasian Economic Cooperation Fund has achieved cooperation with many countries along the line in infrastructure, energy, minerals, manufacturing, agriculture and other fields, among which Azerbaijan is also a country of great concern to the platform, and hopes to have in-depth communication with the Alat free economic zone in the future, Provide relevant financing services for enterprises entering the park.