BAKU, Azerbaijan, March 18. As Azerbaijan focuses on a competitive and sustainable economy to drive growth, the Alat Free Economic Zone (AFEZ) will be a unique export-led industrial zone, designed to attract and grow value-added and manufacturing activity, Rana Karadsheh, Regional Director of the International Finance Corporation (IFC) for Europe, said in an exclusive interview with Trend.
"Close to the Baku International Sea Trade Port and transport corridors, AFEZ has the potential to become a regional industrial hub, boost economic diversification, and ensure sustainable economic growth. To support this, IFC signed a memorandum of understanding with the AFEZ Authority to create a framework for advisory and early-stage project development support for companies interested in locating their operations in AFEZ," she said.
Karadsheh pointed out that IFC, in partnership with the Austrian Federal Ministry of Finance, and in collaboration with the AFEZ Authority, will advise and support AFEZ’s tenants.
"The goal is to help companies identify and develop investment projects that focus on supporting the country’s net-zero transition and its climate-resilient development path," the IFC regional director explained.