Global Look Press: Artificial Island Project
Azerbaijan has adopted a law on the creation of artificial islands in the Caspian Sea in the third reading
The Azerbaijani parliament has approved a law facilitating the construction of artificial land plots in the Caspian Sea. The law, adopted in the third reading on Monday, establishes the regulatory framework for such changes.
The new law defines the procedural rules and structural requirements necessary for the creation and approval of artificial land plots in the Azerbaijani sector of the Caspian Sea. This step was taken after intensive discussions and consultations, reflecting Baku's strategic ambitions to expand usable land and profit from its coastal real estate while facing significant environmental and regulatory challenges.
During the legislative process, Ali Masimli, a member of Parliament, stressed the importance of bringing the new law into line with international standards, especially with regard to preparedness for seismic activity. He highlighted the Dutch experience in land reclamation as a potential model for Azerbaijan, advocating a comprehensive master plan for sustainable development.
Despite the enthusiasm, the bill has faced criticism, especially regarding the ongoing commercial development along existing coastal zones, which often violates national land codes and environmental regulations. This practice, combined with Azerbaijan's difficult experience in implementing past projects, such as the failed Avesta Islands in the Caspian Sea project, highlights the financial and practical risks associated with such ambitious endeavors.
The discussion of the new law reflects broader national aspirations and concerns about the environmental and economic consequences of the changing contours of the Caspian Sea. The construction of the Caspian Dream Liner Hotel on a newly built artificial island near Nardaran is already underway, which inspires cautious optimism about the potential for sustainable and profitable development.
Experts note that the success of the implementation of the idea of artificial islands will depend on a balanced approach that takes into account both environmental integrity and accessibility for the population.
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- Finance
- 7 May 2024 12:36
Economics
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Azerbaijan’s Minister of Economy, Mikayil Jabbarov, participated in the "Circle of Leaders: Financing the Energy Transition - New Horizons" session during the World Economic Forum (WEF) in Davos, emphasizing the country’s strategic role in global energy security and its green energy transition initiatives.
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Around 200 employees of SOCAR, Azerbaijan's state oil company, staged a strike in Batumi, Georgia, on January 21,demanding wage increases, local outlet Batumelebi reported. Participants included technicians and staff from various departments who argued that their long-standing minimal salaries fail to reflect their workload.
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On January 21, during a meeting in Davos, Azerbaijani President Ilham Aliyev met with Henrik Poulsen, Chairman of the Supervisory Board of Carlsberg Group, and Jacob Aarup-Andersen, the company's CEO. The discussions emphasized Carlsberg Group's expanding presence in Azerbaijan and its commitment to developing local production and sustainability.
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In 2024, Azerbaijan's "Single Window" Export Support Center processed 1,747 requests from businesses and individuals, facilitating the issuance of 3,982 export certificates. According to Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communications, these efforts supported export operations valued at USD 288.2 million.
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