BAKU, Azerbaijan, June 29. Residents of Azerbaijan's industrial parks have saved approximately 567 million Azerbaijani manats ($333.5 million) through government incentive programs, according to the Economic Zones Development Agency (IZIA) under the Ministry of Economy.
The agency said the preferential mechanisms offered in industrial parks not only create a favorable business environment for investors but also support the expansion of manufacturing and the development of the country's non-oil sector.
Under the incentive program, industrial park residents are exempt from property, land and profit taxes for 10 years.
In addition, machinery, technological equipment and devices imported for production purposes are exempt from value-added tax (VAT) and customs duties.
As a result of these incentives, industrial park residents have saved 567 million manats (about $333.5 million) to date, including 42.3 million manats (about $24.9 million) in 2025 alone.
According to the agency, the incentive mechanisms help reduce operating costs for businesses, improve Azerbaijan's investment climate and strengthen the country's competitive industrial production.
