BAKU, Azerbaijan, September 25. Azerbaijan is creating joint ventures with foreign companies as part of its "smart city" and "green energy zone" concepts, Azerbaijan’s Economy Minister Mikayil Jabbarov said at the international forum on carbon pricing in Baku, Trend reports.
He highlighted that Azerbaijan is actively working to develop hydropower potential in Karabakh and Eastern Zangezur.
"In the territories liberated from occupation, we are implementing the concepts of 'smart city,' 'smart village,' and 'green energy zone'. These initiatives involve creating enterprises with foreign investments focused on greening and decarbonization efforts. At the same time, Azerbaijan is dedicated to enhancing its hydropower potential capacity in these regions," Jabbarov stated.
Furthermore, he emphasized that Azerbaijan is committed to transitioning to a circular economy.
"In light of global climate changes, the government continues to support the shift to a circular economy, the implementation of clean technologies, the use of renewable energy sources, as well as waste recycling and the cleanup of polluted areas. This process will continue. Entrepreneurs involved in 'green' projects can expect support through subsidized loans, grants, and 'Startup' certificates, which stimulate the development of environmentally sustainable initiatives in the country," the minister added.