KHANKENDI, Azerbaijan, August 4. Significant progress has been achieved in economic recovery, economic activity, and employment in the territories of Azerbaijan liberated from occupation, Elchin Yusubov, special representative of the President of the Republic of Azerbaijan in Khankendi city, Aghdara, and Khojaly districts, told Trend at the 6th summer camp of diaspora youth in Khankendi.
He noted that a total of 506 objects have been leased in the territory. In Khankendi city, 374 objects have been leased to entrepreneurs, in Agdera district - 35, in Khojali district - 97. Most of the objects have already started working. To date, investors have realized more than 56 million manats of investments in the territory. More than 2,000 people have been employed at the facilities that have started working. The number of jobs will exceed 5,000 once other objects under the existing contracts start working.
Yusubov pointed out that the favorable mechanisms provided by the state in the liberated territories played a significant role in achieving these results.
According to the Tax Code, residents of the territory liberated from occupation are exempt from paying income, property, and land taxes for 10 years starting from January 1, 2023. Social insurance contributions paid by individual entrepreneurs, family farms, landowners, and owners of shares are supposed to be subsidized at the expense of the state budget in the amount of 100 percent for 10 years from January 1, 2023. From that date, entrepreneurs engaged in production activities in the territories liberated from occupation shall be granted financial assistance from the State budget for 10 years in the amount of 20 percent of the funds they pay monthly under the tariffs for consumed public utilities.