BAKU, Azerbaijan, June 29. Residents of
Azerbaijan's industrial parks have saved approximately 567 million
Azerbaijani manats ($333.5 million) through government incentive
programs, according to the Economic Zones Development Agency (IZIA)
under the Ministry of Economy.
The agency said the preferential mechanisms offered in
industrial parks not only create a favorable business environment
for investors but also support the expansion of manufacturing and
the development of the country's non-oil sector.
Under the incentive program, industrial park residents are
exempt from property, land and profit taxes for 10 years.
In addition, machinery, technological equipment and devices
imported for production purposes are exempt from value-added tax
(VAT) and customs duties.
As a result of these incentives, industrial park residents have
saved 567 million manats (about $333.5 million) to date, including
42.3 million manats (about $24.9 million) in 2025 alone.
According to the agency, the incentive mechanisms help reduce
operating costs for businesses, improve Azerbaijan's investment
climate and strengthen the country's competitive industrial
production.
