12:09 - 19.06.2026
June 19, Fineko/abc.az. To date, investments in the amount of more than $5 bn have been attracted for the industrial zones of Azerbaijan and more than 20,000 new jobs have been created.
ABC.AZ informs that Yusif Abdullayev, Executive Director of the Azerbaijan Export & Investment Promotion Agency (AZPROMO), said this at the 51st annual meeting of the Islamic Development Bank (IDB) Group in Baku.
According to Abdullayev, industrial zones cover more than 1,700 hectares, their residents are exempt from income, property and land taxes for a period of 10 years, and also do not pay VAT and customs duties for imported equipment and machinery.
Abdullayev added that the Alat Free Economic Zone, established in Garadagh district of Baku, is in a strategic position next to the Baku International Seaport and the main international transport corridors: "The zone, offering competitive business environment based on international best practices, promotes development of export-oriented industries, high-tech manufacturing and attracting innovative projects. It provides for free repatriation of profits, 100% foreign ownership rights, reliable intellectual property protection, as well as a special regulatory framework that creates additional benefits for investors."
