LAW ON SPECIAL ECONOMIC ZONES IMPROVED

Baku, February 3 (AzerTAc). The bill “On Special Economic Zones” has been totally improved, chairman of the Milli Majlis standing commission on economic policy Ziyad Samedzade said at the commission`s meeting on Tuesday.

According to him, the law will envisage establishment and management of special
economic zones and determine the business activity rules there. Commission chief
noted majority of proposals made by the Ministries of Tax, Economic Development,
State Customs Committee had been taken into consideration.
Deputy Commission chairman Chingiz Asadullayev said global economic crisis severely
hit world economies. Creation of the legal base for development of special economic
zones will pave the way for influx of foreign investments
Speakers noted a number of economic institutions will be created in Azerbaijan. This
law will be a legal base for those institutions.
Commission recommended this law be discussed by the Milli Majlis.