BAKU, Azerbaijan, February 6. Azerbaijan has defined the timeframe for issuing investment incentive certificates for strategic investment projects, following a decree signed by President Ilham Aliyev, Trend reports.
Under the decree, legal entities and individual entrepreneurs implementing strategic investment projects in areas designated by the president will be eligible to receive an investment incentive certificate for a period of six years, starting from January 1, 2023. The Ministry of Economy has been tasked with resolving issues arising from the implementation of the decree.
The strategic investment project areas eligible for the issuance of an investment incentive certificate are as follows:
- Production projects based on the local raw material base (metal ores, aluminum, oil, gas, chemicals, construction materials, cotton, and cocoons);
- Energy production projects utilizing renewable energy sources;
- Waste management and recycling projects;
- Seawater desalination projects;
- Projects for the establishment of private industrial zones, as well as production projects implemented by residents of industrial parks.
- Production projects at non-oil and gas industrial enterprises privatized through investment tenders held after January 1, 2023.
- “First in Azerbaijan” projects aimed at establishing production for the first time in the country, promoting import substitution, and increasing the export potential of the non-oil sector.
- Pharmaceutical and medicinal product manufacturing projects, excluding packaging activities.
- Railway rolling stock repair projects and the production of related spare parts.
- Military-purpose goods production projects.