Assessing the Potential of SEZs in Azerbaijan

Baku, Azerbaijan

Baku, Azerbaijan

UNIDO assessed the possibility of a free economic zone in Azerbaijan in 2007, with parallel World Bank Foreign Investment Advisory Service (FIAS) work on the legal front by Locus Economica Founder and CEO Jean-Paul Gauthier. Partially as a result of these efforts, the country adopted an SEZ law in 2009. In short order, Sumgait Technologies Park was thereafter established by presidential decree in 2009, Sumgait Chemical Industrial Park and Balakhany Industrial Park in 2011, and Sumgait Textile Park in 2013. The adoption of the 2014 Industrial Strategy HAS resulted in the rapid establishment of at least 7 more industrial parks by the Azerbaijan Investment Company since 2015.