Legislative initiatives drafted for IT-park development

By: Nigar Orujova

The High Technology Park under the Communications and High Technologies Ministry has developed 12 legislative initiatives on the future activities of the organization.

This was announced by Executive Director of the Park, Seymur Agayev. He said the initiatives have been prepared based on detailed analysis and study of similar experiences of other countries.

“At the initial stage, we have identified three of these initiatives, which we believe can be applied to the activities of the High Technology Park. The first two are directly related to production of intellectual industry products, stimulate development of the sector and attract foreign experts in the industry,” Agayev said.

The company head noted that the third model is more complex, and that it can be effective in several areas of both production and intellectual business – which is also important in terms of attracting foreign capitals to Azerbaijan.

As for the work on the construction of the Park, he said, preparation is underway.

The general plan of the High Technologies Park and its construction can begin after the approval, he said.

At this stage, construction of the auxiliary economic structure, which will also be used as a showroom for the presentation of the High Tech Park projects to potential investors, was launched.

Earlier, the Communications and High Technologies Ministry defined priority areas for the development of IT Technological Parks across the country.

The High Tech Park is under construction in a 50 hectares land area in the Pirallahi district of Baku.

The new facility will be an area equipped with all the necessary infrastructure, logistics and governing entities for conducting research in ICT, telecommunications and space use, energy efficiency, and the development of new and high technologies.

Residents and companies operating in the park will be exempt from the 18 percent VAT on imported infrastructural and technological goods and services. The park participants will also be exempt from tax and customs duty for seven years.

The park’s activity is expected to expand the ICT sector based on current scientific and technological achievements, and to ensure the creation of modern complexes for research and development of new information technologies.

The park will play an important role in the sustainable development of the economy and competitiveness.

The beginning of the Park’s activities will ensure the creation of modern complexes for research, and the development of new information technologies. The Park will also play an important role in the sustainable development of Azerbaijan’s economy and competitiveness.

SOURCE: Azer News