Entrepreneurship support

  • Updated 23.08.2021 23:49
  • Created 25.09.2012 07:56
Special Economic Zone

 

Various organizational-economic models of entrepreneurship development are applied in the leading countries of the world. One of these models is special economic zones (SEZ). Its overall goal is to support the acceleration of the development of priority areas of country's economy, creation of more available condition to attract domestic and foreign investment, introducing new competitive manufacturing and service areas on the basis of special legal regime and modern technology.

Currently, there are more than 1000 SEZ in more than 100 countries of the world. Approximately 500 of them function in Asia and Pacific Ocean region, more than 200 in America continent, more than 200 in Near East and Africa countries and more than 100 in Europe.

The appropriate tasks are also carried out in order to apply new organizational-economic models - special economic zones, industrial city and business incubator of entrepreneurship development in Azerbaijan. The important tasks were implemented in the area of establishing of special economic zones in Azerbaijan for the purpose of allurement of domestic and foreign investments to the country's economy, further increasing of investment condition, supporting for organization of new competitiveness and available manufacturing and service areas.

Thus, were learned the best international experience, carried out analysis and implemented important measures to format the normative legal base to apply in our country.

Law on "Special Economic Zones" April 14 2009 dated came into force and to apply this law, 3 June of 2009 dated decree was signed by the president of Azerbaijan Republic. The Ministry of Economic Development (MED) is vested with the authority to prepare and present the proposal for establishment and function of a particular SEZ for approval by the President of the Republic of Azerbaijan. Meanwhile, to guarantee the execution of noted decree were given important tasks to the Ministry of Economic Development by the 16 June 2009 dated decree of Cabinet of Ministers. The relevant works related to this decree and order was continued in 2010 too. Thus, "Rules about getting report and statistical information on the activities of SEZ's residents, monitoring them", "rule on reporting information about improvement and activity of SEZ, as well as external audit reports by the operator", "exemplary form of intent agreement signed between the operator and physical and legal entities to function in SEZ", "exemplary form of agreement signed between resident and operator of SEZ", "exemplary form of lease agreement signed between administration and operator of SEZ for plot of land under the state property in special economic zone " and "exemplary form of lease agreement signed between resident and operator of SEZ for plot of land under the state property in special economic zone" has been prepared and registered by the Ministry of Justice.

 Due to "Rule of getting information about activity of SEZ's residents, implementing monitoring to their activity" residents and operators of SEZ's must provide the account- statistical information about their activity to the administration until the 20th of next month after finishing of finance year.

According to the "rule on reporting information about improvement and activity of SEZ, as well as external audit reports" operator must provide the reports on annual balance of SEZ, financial results and use of them to the administration related to considerate duration by the legislation.

 "Exemplary form of intent agreement signed between the operator and physical and legal entities to function in SEZ" and "exemplary form of agreement signed between resident and operator of SEZ" express the issues regarding collaboration directions and collaboration forms of intent agreement and coming into force and duration of agreement, solution of problems, relevantly.

"Exemplary form of lease agreement signed between administration and operator of SEZ for plot of land under the state property in special economic zone" and "exemplary form of lease agreement signed between resident and operator of SEZ for plot of land under the state property in special economic zone" regulates the issues such as rent price, renter, law and duties of renter, responsibility of parties.

Moreover, by the 25 January 2010 dated decree of Cabinet of Ministers was approved "Rule and form of balance application of activities of residents functioned with economic activities by the branches, representatives without creating a separate legal entity in the territory of special economic zone".

President of Azerbaijan Republic approves 25 January 2010 dated order "rules of contest for selection of operator of special economic zones"

The necessary normative legal base for establishment of special economic zone was already formatted in Azerbaijan. The legislative basis regulated the formulation and function of SEZs creates the application of new mechanism of state support for entrepreneurship in Azerbaijan.

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