Chairman: Over half of Alat Free Economic Zone land allocated to investors

As of today, approximately 200 hectares of ready-to-use land are available in Azerbaijan's Alat Free Economic Zone (AFEZ), according to Valeh Alasgarov, Chairman of the AFEZ Board of Directors, Report informs.

He made the remark during a large-scale business meeting with members of the Istanbul Chamber of Industry (ISO) Assembly, who visited Baku to expand economic cooperation between Türkiye and Azerbaijan.

Alasgarov highlighted that a significant portion of this land has already been allocated to investors: "In parallel, construction work is nearing completion on part of the area designated for heavy industry, which exceeds 200 hectares. It is expected to be finalized within the next one to two weeks. More than half of the 138-hectare section has already been offered to investors."

The chairman added that, to date, companies from China, India, Russia, Israel, Türkiye, and other countries have registered in the Alat Free Economic Zone: "Four of them have already begun construction, and two are expected to start producing agreed-upon goods by the end of this year. Other companies are still in the construction phase, with production activities planned for next year and the year after."

He also pointed out that one of the key advantages of the Alat Free Economic Zone is the complete exemption from taxes and customs duties: "Companies operating here pay no taxes or customs fees. Both rates are zero."