BAKU, Azerbaijan, November 27. President of the Republic of Azerbaijan Ilham Aliyev has approved the amendments to the law "On Land Lease," Trend reports.
The new law stipulates that agricultural land in the territories liberated from occupation will be leased to business entities through investment tenders, following a procedure set by the relevant executive authority.
In addition, agricultural land located near settlements within rural and urban territorial units will be leased to local residents for cultivating annual and perennial crops under preferential terms. The terms of leasing will be established by the relevant executive authority.
The head of state also signed a decree amending several decrees related to the implementation of the law.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel