Baku, Azerbaijan, Nov. 13
By Azad Hasanli – Trend:
Azerbaijan’s Economy Ministry may consider expanding the list of benefits granted to residents of industrial parks and zones in the country, Azerbaijani Deputy Economy Minister Niyazi Safarov told Trend.
“At present, together with the Institute for Scientific Research on Economic Reforms (ISRER) under the Ministry of Economy, we are conducting assessment to study how effective the increase in volume, quality or number of the benefits may be,” he said.
Safarov noted that one needs to take into account the peculiarities of each facility, which operates in industrial parks and zones of Azerbaijan.
Residents of Azerbaijan’s industrial parks, zones, high technology parks and agricultural parks are exempt from taxes on real estate, land, profits and VAT on equipment imports for seven years.
At present, there are five industrial parks (the Sumgait Chemical Industrial Park, industrial parks in Garadagh, Balakhany, Mingachevir and Pirallakhi settlements), as well as Neftchala, Hajigabul and Masalli industrial districts, in Azerbaijan.
A number of agricultural and high technology parks also operate in Azerbaijan.