16:54 - 15.08.2023

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In accordance with the policy of industrialization, specialized industrial parks and industrial districts are being created in Azerbaijan.

ABC.AZ reports that there are 7 industrial parks in the republic (Sumgait Chemical, Garadagh, Pirallahi, Mingachevir, Balakhani, Aghdam industrial parks and the Araz Valley Economic Zone industrial park in the Jabrayil district) and 5 industrial districts (Hajigabul, Masalli, Neftchala, Sabirabad and Sharur).

Residents of industrial parks are exempt from property, land, income or profit tax for 10 years from the date of their registration, and the machinery, technological equipment and devices they import for production purposes are exempt from VAT and customs duties. So far, 134 business entities have received the status of a resident in industrial zones, 68 of which have already started their activities. To date, entrepreneurs have invested more than AZN 6.56 billion in industrial zones, and more than 10,600 permanent jobs have been created.