BAKU, Azerbaijan, November 25. Azerbaijan has officially launched a series of economic incentives to support activity in the areas liberated from occupation, said Mikayil Jabbarov, the country’s Minister of Economy, at the discussion of the 2025 state budget in the Azerbaijani Parliament, Trend reports.
Jabbarov revealed that tax and customs exemptions have already been applied to the tune of over 3 million manat ($1.7 million).
“Financial assistance for utilities is being transferred directly to the bank accounts of entrepreneurs. We have started subsidizing social insurance contributions and loan interest. A credit guarantee mechanism has also been put in place.
This year, 108 million manats were generated from privatization, achieving 103 percent of the annual target. To improve the financial health of large state-owned enterprises and attract private investment, steps are being taken to reduce the state's share in these companies.
Further measures to reduce state involvement in large public enterprises are underway, including the preparation of a new law on the management and privatization of state assets.
In connection with the implementation of the “First State Program for the Great Return” to the liberated territories, Jabbarov noted that two new industrial parks—Aghdam and the Araz Valley Economic Zone—have already incorporated a total of 46 enterprises. He also announced plans to invest $232 million in these projects, creating over 4,300 new jobs,” the minister said.