Nearly 12 bn manats allocated for projects in liberated territories

15:29 - 12.01.2024

January 12, Fineko/ The State Budget allocated about 12 bn manats for projects in the occupation-liberated territories of Azerbaijan from 2021 to the present day.

ABC.AZ reports that the statement was made by Mammad Musayev, the president of the National Confederation of Entrepreneurs (Employers) Organizations of Azerbaijan (ASK).

He added that attracting private investments in construction and restoration work in the region is a priority.

"Attracting investments will allow developing entrepreneurial activity, introducing sustainable food production systems, and encouraging tourism in the liberated territories. Favorable investment climate has been created for enterprises in the region. Residents who produce output in the liberated territories do not pay taxes and customs duties when importing machinery, technological equipment, raw materials and supplies. Entrepreneurs operating here are exempt from paying taxes on profits, land, property and simplified VAT for 10 years," Musayev said.


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