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PROTECTION OF INVESTMENTS IS ON AGENDA

On January 18, 2018 the President of the Republic of Azerbaijan Mr.Ilham Aliyev has signed decree on several actions in respect to the promotion of investment activities and protection of the rights of investors (“Decree”). The Decree is following the Strategic Road Map approved by the President of the Republic of Azerbaijan on December 06, 2016 which covers national economic perspectives and road maps on different economic sectors.

 

The Decree envisages drafting a new law on investment activities and protection based on international standards. At the same time mechanisms of protection of investors’ rights and respective guarantees provided by state, as well as alternative dispute resolution shall be specifically regulated by new law.

  

 It is worthy to note that strong trust in protection of rights is one of the key elements of attractive investment climate. In this respect, further reforms in the area of judicial institutes and the rule of law shall be deemed as pre-condition for increasing of the trust of potential investors and future successful economic reforms, in general.

 

Establishment of comprehensive and foremost alternative dispute resolution mechanisms, along with free competition environment, shall be considered as main component of strengthening rule of law, which, in turn, requires complex approach and covers improving corresponding legislation and creating more flexible and transparent enforcement system.


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