(MENAFN- Trend News Agency) 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
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