Azerbaijan prepares project to support investments in liberated territories

Business Materials 18 November 2021 12:31 (UTC +04:00)

BAKU, Azerbaijan, Nov. 18

By Sadraddin Aghjayev - Trend:

A project has been prepared in Azerbaijan to support investments in the territories liberated from Armenian occupation [in the 2020 second Karabakh war], Deputy Director of the Department for Reconstruction and Development of Territories at the Ministry of Economy of Azerbaijan Vusal Garayev said, Trend reports on Nov. 18.

Garayev made the remark during a business mission of Russian companies for the development of the "Smart City" urban infrastructure in Baku.

"The project reflects all the features regarding investment in the liberated territories, such as opportunities for increasing investments; the areas in which more funds can be invested; sectors which are most suitable for a particular investor, as well as a number of other nuances,” he said.

“Support of foreign investors is another important step. The government of Azerbaijan has also developed the necessary tools in this direction," the ministry’s representative noted.

According to Garayev, the industrial park of Aghdam is an area for small and medium businesses.

"The "Araz valley economic zone" [Jabrayil district] has a large transport and transit potential. Production and sale of building materials can be established here. Logistics centers will also be built here," he added.