BAKU, Azerbaijan, July 1. Entrepreneurs have so
far invested 171.68 million manat ($101.02 million) in the Aghdam
Industrial Park.
This was reported by the Agency for the Development of Economic
Zones.
In addition, it is reported that companies operating in the
country’s second-largest industrial park have sold products worth
1.86 billion manat ($1.09 billion). Of this amount, 82.33 million
manat ($48.4 million) worth of products were exported.
The park, managed by the Agency for the Development of Economic
Zones, has created more than 1,000 permanent jobs.
Thirty-one businesses in the industrial park have been granted
resident status, and four entrepreneurs have been granted
non-resident status.
Meanwhile, Azerbaijan hosts eight specialized industrial parks
managed by the Economic Zones Development Agency (IZIA). These
zones drive the country's non-oil sector, offering investors
state-funded infrastructure and a 10-year exemption from profit,
property, and land taxes, as well as VAT and customs duties on
imported equipment.
The Aghdam Industrial Park, established by Presidential Decree
on May 28, 2021, is a major 190-hectare economic zone in
Azerbaijan's Karabakh region. It aims to revitalize the liberated
territories, promote entrepreneurship, and produce competitive,
export-oriented industrial goods.
