Azerbaijani parliament adopts amendment on investment activities in artificial land areas

The Milli Majlis (Parliament) of Azerbaijan has approved in the final reading the permission to organize casino games in artificial land areas in the Azerbaijani section of the Caspian Sea, Report informs.

In this regard, the proposed amendments to the Civil, Criminal, Administrative Offenses Codes, and the laws "On Information, Informatization and Protection of Information", "On State Duty", "On Advertising", "On Licenses and Permits", "On Combating the Legalization of Criminally Obtained Property and Financing of Terrorism" and "On the Creation of Artificial Land Areas in the Azerbaijani Section of the Caspian Sea (Lake)" were discussed at today's meeting of the extraordinary session of parliament.

It was noted that on May 7, 2024, the law "On the Creation of Artificial Land Areas in the Azerbaijani Section of the Caspian Sea" was adopted. This law, which regulates public relations regarding the creation of artificial land areas for construction purposes, defined the organizational and legal foundations for creating artificial land areas and the specifics of using artificial land areas, including construction on artificial land areas.

The bill submitted for discussion provides for the regulation of entrepreneurial activities in artificial land areas, including the establishment of legal and organizational foundations for conducting casino games in artificial land areas. Thus, conditions are being created for investment activities to promote and develop entrepreneurship in artificial land areas.

After discussions, the presented document was put to a vote and adopted in the third reading.