BAKU, Azerbaijan, July 17. The implementation of about 80 investment projects has already launched in Azerbaijan's liberated territories, President of the Azerbaijani Confederation of Entrepreneurs Mammad Musayev said, Trend reports.
Musayev made the remark at the 35th Meeting of the Board of Directors of the Islamic Chamber of Commerce, Industry and Agriculture (ICCIA) in Baku.
He noted that the amount of funds spent to date on the revival of liberated lands is about $7 billion.
"A powerful infrastructure is being built in the Karabakh and Eastern Zangazur economic regions using the latest technologies in accordance with modern requirements," the official said. "At the same time, work is underway to restore religious monuments vandalized by Armenia [during the occupation]. The facts of the brutal destruction of our mosques and cemeteries have been submitted to the relevant international organizations."
According to Musayev, the launched investment projects mainly cover industry, agriculture, trade and the service sector.
Besides, 18 percent of Azerbaijan's foreign trade turnover, or $9.3 billion, falls on the ICCIA countries, he added.
Until 2026, about $10 billion is planned to be invested in projects in Karabakh due to the active involvement of foreign investors.
Since 2023, entrepreneurs working in the liberated territories have been exempt from income, property, and land taxes for 10 years. In addition, their mandatory social payments are subsidized by the state.
Moreover, entrepreneurs engaged in the manufacturing of products in these territories are entitled to customs duty benefits when importing raw and other materials, and the imports are exempt from VAT payment for 10 years.