(MENAFN- AzerNews)
By Ayya Lmahamad
Azerbaijan's Alat Free Economic Zone Authority and Israel's
BioPharmax company have signed the first cooperation contract,
Azernews reports per Trend.
The document was signed by Alat FEZ Authority Board Chairman
Valeh Alasgarov and BioPharmax CEO Sarel Chen-Tov.
Speaking at the signing ceremony, Valeh Alasgarov stated that
BioPharmax will open a representative office of its company in
Azerbaijan (BioPharmax AFEZCO), adding that an area of three
hectares will be allocated for the Israeli company.
“The company intends to use modern equipment in the production
of medical products, and the products will be primarily exported,”
he said.
He added that a special legal framework and appropriate modern
infrastructure have been created for entrepreneurs and
investors.
“I'm sure that given all these advantages, the company will
manufacture about 50 types of medical products,” he said.
BioPharmax branch in Alat FEZ
Sarel Chen-Tov stated that the opening of a branch of BioPharmax
on the territory of Alat FEZ will allow the expansion of the
company's presence in the region.
He added that the implementation of this project will fully
provide the Azerbaijani market with BioPharmax's products and allow
to decrease the country's dependence on the import of medications
from countries such as Kazakhstan, Belarus, the U.S., and European
countries.
“Israel plans to establish a partnership with medical
institutions and medical universities of Azerbaijan and create a
joint analytical center in the future,” he added.
Transport & logistics center within Alat
FEZ
Moreover, Valeh Alasgarov stated that the construction of a
transport and logistics center is planned on the territory of the
Alat FEZ.
“Railway infrastructure will be created on an area of 160,000
square meters and a highway will be built,” he said.
Noting that private investments will be attracted to
implementing this initiative, he added that it is planned to
complete the project in the next two years.
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Ayya Lmahamad is AzerNews' staff journalist, follow her on
Twitter: @AyyaLmahamad
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