Baku: Azerbaijan has identified specific areas in its capital city, Baku, for initial investment aimed at reconstruction. The focus will be on areas around Lake Boyukshor, situated between Heydar Aliyev and Ziya Bunyadov avenues, as well as the surroundings of the Heydar Aliyev Oil Refinery. These projects will be executed based on agreed conceptual plans within a public-private partnership framework, APA reports.

According to Azeri-Press News Agency, this initiative is part of the Cabinet of Ministers’ order titled “Establishing a Working Group to Support Strategic Urban Development Initiatives in the Socio-Economic Development of Baku City.” The newly formed Working Group is responsible for creating the necessary conditions for investment to facilitate the reconstruction efforts. This includes negotiating the terms of investment agreements and implementing other essential measures to ensure the success of these projects.

The focus on Lake Boyukshor and the Heydar Aliyev Oil Refinery areas underscores the strategic importance of these locations in Baku’s urban development plans. The public-private partnership model aims to leverage both government and private sector resources to enhance the socio-economic landscape of the city.