Relevant steps have been taken toward introducing a “Fast-Track” mechanism to ensure the accelerated implementation of strategic investment projects of particular importance to the national economy.
Strategic investment projects are identified based on the results of a preliminary assessment conducted by the Ministry of Economy, while their review and selection are carried out by the Commission. The list of selected strategic investment projects is submitted annually to the Cabinet of Ministers of the Republic of Azerbaijan for approval.
Under this mechanism, it is envisaged to promptly eliminate institutional, administrative, technical and other obstacles arising during the implementation of selected projects and to strengthen coordination among the relevant state authorities.
Depending on the specific characteristics of strategic investment projects, proposals on relevant incentive measures, preferential mechanisms, infrastructure support, allocation of land plots, state guarantees and subsidies may be prepared and submitted to the Cabinet of Ministers. The application of the mechanism is intended to create more flexible decision-making and coordination opportunities for the implementation of strategic investments, optimize project implementation timelines, and improve the investment environment.
In order to apply a unified approach to the planning and implementation of strategic investment projects and strengthen inter-agency coordination, a Commission chaired by Deputy Prime Minister of the Republic of Azerbaijan Shahin Mustafayev was established by a relevant Order of the Cabinet of Ministers of the Republic of Azerbaijan.
The Commission consists of authorized representatives of 12 state institutions. Minister of Economy Mikayil Jabbarov serves as Deputy Chairman of the Commission, while the functions of the Commission’s Secretariat have been entrusted to the Ministry of Economy.
