Strategic investments will be acquired by the state in exceptional cases that contradict national interests.
Elchi.az reports that this was reflected in the amendment to the Law “On Investment Activity”, which was discussed at today’s meeting of the Committee on Economic Policy, Industry and Entrepreneurship of the Milli Majlis.
Currently, investments can be acquired from the investor by the state on two main grounds – for state needs and for the purpose of requisition (in case of natural disasters, technological accidents, epidemics and other cases of an emergency nature, for the benefit of society by the decision of the relevant state bodies). In both cases, the value of the investment is paid to the investor by means of compensation payment in accordance with Articles 13.3 and 13.4 of this Law.
The proposed amendment establishes a new basis for the acquisition of investment by the state. This is the acquisition of investments by the state in relation to strategically important investments in order to prevent exceptional cases that harm the interests of the Azerbaijani state and people or contradict the national interests of the Republic of Azerbaijan.
Thus, the draft law forms the legal basis for the acquisition by the state of strategically important investments in order to prevent exceptional cases that harm the interests of the Azerbaijani state and people or contradict the national interests of the Republic of Azerbaijan. The acquisition of investments for the stated purpose can be carried out in the usual manner, that is, by paying compensation to investors in exchange for the acquisition of investments by the state.