Azerbaijan unveils volume of investment in Aghdam and Jabrayil industrial parks

A total of over $11 million has been invested in Aghdam Industrial Park and Araz Valley Economic Zone located in Jabrayil district, Elshad Nuriyev, Chairman of the Board of the Agency for Development of Economic Zones under the Ministry of Economy said.

About $7 million have been invested in Aghdam Industrial Park, Report quotes him as saying.

There are 19 residents and 6 non-residents in the park: "These investors plan to invest more than $107 million in the park and create more than 1,600 permanent jobs. The first enterprise in the park is expected to open next year.

About $5.8 million have been invested in the Araz Valley Economic Zone, which covers an area of 200 hectares. There are 5 residents and 1 non-resident in the park. Investors plan to invest about $19 million in the park and create more than 420 permanent jobs. One of the residents - Auto Leasing Azerbaijan LLC has already started its activity".

Nuriyev also noted that residents of the parks are provided with ready infrastructure at the expense of state funds. They are exempted from property tax, land tax, income tax, as well as VAT on imported equipment for 10 years from the date of registration, as well as customs duties for the same period.