16:51 - 7.11.2024

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November 7, Fineko/abc.az. From now on, agricultural lands in Karabakh and Eastern Zangezur will be leased to business entities through investment tenders.

ABC.AZ informs that at today's meeting Milli Majlis approved in final reading the relevant amendments to the Law on Land Lease.

According to the new version of the law, the procedure for leasing will be regulated by a special executive authority.

First of all, the amount of land that may become the subject of land reform in the future and remain in state ownership will be determined. It is also necessary to effectively distribute land within the administrative boundaries of the respective settlements and bring infrastructure to them (irrigation, land reclamation, electricity, etc.)

At the next stage, in order to create favorable and transparent business environment, it is planned to attract investors to land, as well as transfer land for use to residents who have settled in settlements within the boundaries of rural and settlement territorial units.

After that, agricultural lands near settlements will be leased (for annual and long-term crops) on preferential terms in accordance with the procedure established by the body authorized by the local executive authority.