BAKU, Azerbaijan, July 1. Entrepreneurs have so far invested 171.68 million manat ($101.02 million) in the Aghdam Industrial Park.
This was reported by the Agency for the Development of Economic Zones.
In addition, it is reported that companies operating in the country’s second-largest industrial park have sold products worth 1.86 billion manat ($1.09 billion). Of this amount, 82.33 million manat ($48.4 million) worth of products were exported.
The park, managed by the Agency for the Development of Economic Zones, has created more than 1,000 permanent jobs.
Thirty-one businesses in the industrial park have been granted resident status, and four entrepreneurs have been granted non-resident status.
Meanwhile, Azerbaijan hosts eight specialized industrial parks managed by the Economic Zones Development Agency (IZIA). These zones drive the country's non-oil sector, offering investors state-funded infrastructure and a 10-year exemption from profit, property, and land taxes, as well as VAT and customs duties on imported equipment.
The Aghdam Industrial Park, established by Presidential Decree on May 28, 2021, is a major 190-hectare economic zone in Azerbaijan's Karabakh region. It aims to revitalize the liberated territories, promote entrepreneurship, and produce competitive, export-oriented industrial goods.
