As part of their visit to the Fuzuli and Aghdam districts, Prime Minister of the Republic of Azerbaijan Ali Asadov and Prime Minister of the Republic of Belarus Alexander Turchin became acquainted with agricultural machinery showcased at the Aghdam Industrial Park, APA-Economics reports.
The machinery on display was donated to Aghdam by the Belarusian government.
Note that Aghdam Industrial Park was established by a Presidential Order dated May 28, 2021. The park's priority areas include the production of construction materials, packaging of agricultural products, preservation of fruits and vegetables, production of meat and dairy products, animal feed, fertilizers, as well as the creation of service facilities, cold storage rooms, and more.
The park covers an area of 190 hectares, more than 70% of which has already been allocated to entrepreneurs. Despite being newly established, Aghdam Industrial Park ranks second after the Sumgayit Chemical Industrial Park in terms of registered businesses.
Nine enterprises are already operating in the park and have sold products worth 50 million USD to date. In the first quarter of this year alone, nearly 37 million USD worth of products were manufactured.
Over 10 new facilities are currently under construction, including several new factories. A favorable business environment has been established in the park. Entrepreneurs can implement their projects using ready-made state-funded infrastructure without the need for additional technical requirements.
Residents are exempt from property, land, and income taxes for 10 years, as well as from VAT and customs duties on the import of production equipment and machinery. Additional incentives include subsidies for social insurance, a 20% discount on utility services, full exemption from VAT and duties on certain raw materials and materials (as approved by the Cabinet of Ministers), concessional bank loans, and more.
