Azerbaijan to develop draft law on Investment activity
Azerbaijani president Ilham Aliyev has issued an order on several measures regarding promotion of investment activity and protection of rights of foreign investors.
APA reports that taking into account the international experience the Cabinet of Ministers is to develop a draft law on Investment activity within three months and submit to the president.
Moreover, following issues should be regulated in the draft law:
main directions of state policy in investment activity;
a set of measures promoting investment activity;
mechanisms for protection of rights of investors and providing state guarantee for them;
solution of disputes through negotiations, court, as well as arbitration (by referring to provisions of international arbitration rules);
rule for compensation of damage to investor.