(MENAFN- Trend News Agency) BAKU, Azerbaijan, August 22.​ The Aghdam Industrial Park, established by a presidential decree dated May 28, 2021, now hosts more than 30 resident and four non-resident companies with an investment portfolio exceeding 285 million manat ($167.6 million), the Agency for Development of Economic Zones under the Ministry of Economy told Trend .

The Agency stated that entrepreneurs have invested nearly 138 million manat ($81.1 million) in the park, generating over 900 permanent jobs, mostly for local residents. Since operations began, production in the park has reached approximately 500 million manat ($294.1 million), including around 18 million manat ($10.5 million) in exports. Key outputs include construction materials, tobacco products, footwear, ventilation and fire-fighting equipment, metal products, railway equipment, and electrical devices. Much of this production supports reconstruction projects in territories liberated from occupation.

The majority of Aghdam Park's land is already allocated to entrepreneurs, while the process of accepting investment applications for the remaining plots continues," the agency noted.

Similarly, the“Araz Valley Economic Zone” Industrial Park in Jabrayil, created by presidential decree dated October 4, 2021, has registered 18 resident and three non-resident businesses with a total investment portfolio nearing 150 million manat ($88.2 million). Production sales in the park have reached 3.4 million manat ($2 million) to date, with an additional 2.7 million manat ($1.5 million) recorded in the first half of this year.

Covering 200 hectares, the park's strategic location along new highways and railways supports logistics, trade centers, storage complexes, wholesale and retail operations, TIR parks, fuel stations, and vehicle and equipment maintenance.

Both parks offer residents a favorable business environment, providing infrastructure including gas, electricity, water, sewage, fiber-optic networks, and internal road and rail lines. Companies benefit from exemptions from property, land, and income taxes for ten years, as well as VAT and customs duty relief on imported equipment for production purposes.

Additional incentives in liberated areas include preferential bank loans, subsidized social insurance payments, 20 percent discounts on utility services, and full exemptions on customs duties and VAT for certain imported materials. Entrepreneurs interested in registering as residents can apply to the Economic Zones Development Agency under the Ministry of Economy.

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