As part of their visit to the Fuzuli and Aghdam regions, Prime Minister of Azerbaijan Ali Asadov and Prime Minister of Belarus Alexander Turchin toured the Aghdam Industrial Park, APA reports.
The government heads inspected the park's territory and familiarized themselves with the activities of several enterprises.
Established by Presidential Decree on May 28, 2021, the park focuses on key sectors such as construction materials production, agricultural product packaging, fruit and vegetable canning, meat and dairy production, animal feed and fertilizer manufacturing, as well as the development of service facilities and cold storage units.
Covering 190 hectares, more than 70% of the park's land has already been allocated to entrepreneurs. Despite its recent creation, Aghdam Industrial Park ranks second in the country after Sumgayit Chemical Industrial Park in terms of registered businesses.
Currently, 27 business entities are registered as residents and 5 as non-residents. Based on the 32 registered projects, over $148 million in investments are expected, with more than 2,100 jobs to be created. Investors have already injected $66 million and created 649 permanent jobs, primarily for residents of Aghdam and surrounding regions.
Nine enterprises are operational, with a total of $50 million worth of products sold to date. In the first quarter of this year alone, nearly $37 million worth of goods were produced.
More than ten new enterprises are under construction, with several new factories expected to launch soon. A favorable business environment has been established, allowing entrepreneurs to implement projects using ready-made state-funded infrastructure without the need for additional technical conditions.
Residents benefit from significant tax incentives, including exemptions from property, land, and income taxes for 10 years, as well as VAT and customs duties on imported production equipment and machinery. Additional benefits include subsidies on social insurance, a 20% discount on utility services, VAT exemptions, full customs duty waivers for certain raw materials (as approved by the Cabinet of Ministers), and access to concessional loans.
