Russian Company Constructs Factory In Alat Free Economic Zone

(MENAFN- AzerNews)

Ulviyya Shahin Read more

The manufacturer of composite facade panels from Novosibirsk(Russian Federation) is constructing a modern factory in the AlatFree Economic Zone, Azernews reports, citingRuslan Mirsayapov, the commercial representative of the RussianFederation in Azerbaijan, saying as at the roundtable discussion onCooperation in the Production of Construction Materials betweenRussia and Azerbaijan. Export of Russian Manufacturers' Products tothe Azerbaijani Market.

According to him, additionally, the UHOM constructionhypermarket project is being implemented by a member of thebusiness club of the Russian trade representation inAzerbaijan.

"Mutual cooperation in the production and supply of constructionmaterials is very important because the volume of industrialproduction and civil construction is increasing in the republic projects are being implemented in the Garabagh economicregion, where Russian-made products are also used," - added R.Mirsayapov.

The Alat FEZ is situated in the Alat settlement, which is partof the Garadagh district in the Absheron district, Azerbaijan. Itoccupies a strategic location near the Caspian Sea and is close tomajor transportation routes, including the Baku International SeaTrade Port.

The Alat FEZ was established to promote economic development,attract foreign investment, and stimulate trade and manufacturingactivities in Azerbaijan. It was created as part of the country'sefforts to diversify its economy and reduce dependence on oil andgas revenues.

The Alat FEZ is part of larger development initiatives inAzerbaijan, including the construction of the Alat InternationalLogistics Center and the Alat Free Trade Zone. These projects aimto create a vibrant economic hub in the region and attractinvestment from both domestic and foreign sources.

Overall, the Alat Free Economic Zone plays a crucial role inAzerbaijan's economic development strategy, offering favorableconditions for businesses to invest, operate, and participate inglobal trade activities.


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