Azerbaijan seeks Korean tech giants for export-driven industrial hub

Azerbaijan is actively seeking to attract South Korean manufacturers to invest in its Alat Free Economic Zone (FEZ), highlighting the zone's strategic advantages and investor-friendly conditions.

Valeh Alasgarov, Chairman of the Board of the Alat FEZ, outlined the initiative during his visit to Seoul, where he presented the zone’s investment opportunities and benefits in an interview with The Korea Herald.

“Azerbaijan is interested in industrial cooperation with South Korea and invites Korean manufacturers to invest in the Alat Free Economic Zone,” Alasgarov said.

He emphasised that Azerbaijan is particularly targeting Korean companies that produce high-value-added, export-oriented goods.

During his visit, Alasgarov held several bilateral meetings with representatives of South Korea’s key institutions, including the Korea Trade-Investment Promotion Agency and the Korea International Trade Association. These discussions focused on exploring cooperation and promoting the advantages offered by the Alat FEZ.

“These organisations showed genuine interest in the zones. As I always say, we are ready to consider any proposals, but we will give priority to investors who bring innovative technologies, comply with international standards, and strive for export-oriented production,” he stated.

Alasgarov also pointed out that at least 75% of the goods produced within the Alat FEZ must be exported outside Azerbaijan. “This requirement is designed to ensure the competitiveness of the zone and avoid the emergence of small enterprises focused exclusively on the local market,” he explained.

He noted that Korean industry, particularly in mechanical engineering, electronics, automotive manufacturing, and pharmaceuticals, aligns well with the strategic development goals of the Alat FEZ.

“The Alat FEZ also provides industrial land plots with ready-made infrastructure and utilities, which allows projects to be implemented immediately and at minimal cost,” Alasgarov added.