12:54 - 7.05.2024
May 7, Fineko/abc.az. Our main goal is to diversify the economy.
ABC.AZ reports that Azerbaijani Economy Minister Mikayil Jabbarov made this statement at the Azerbaijani-Slovak Business Forum in Baku.
The minister added that this is linked with the geographical location of Azerbaijan: "Due to the lack of access to the open sea, Azerbaijan has invested heavily in the transport sector. Using the strategic geographical position of our country, we have created special economic zones, including industrial zones and the Alat Free Economic Zone."
The minister noted that the Alat FEZ, located near the Baku International Sea Trade Port, the largest in the Caspian Sea, offers tax benefits and freedom of repatriation of income to its residents.
According to Jabbarov, industrial zones of Azerbaijan, exempt from various taxes for 10 years, create exceptional opportunities for cooperation based on mutual interests: "Their modern infrastructure, created at the expense of public funds, provides favorable opportunities for the development of entrepreneurship."
