KHANKENDİ, Azerbaijan, May 14. Investment flow to Azerbaijan's Karabakh is increasing, a source in the Restoration, Construction and Management Service in Khankendi city, Aghdara and Khojaly districts, told TurkicWorld.
According to the source, within the framework of the "First State Program on the Great Return", consistent measures are being taken to ensure sustainable settlement, integrate territories into local and foreign value chains, attract investments, improve the entrepreneurial environment, and develop agriculture and tourism.
For this purpose, the activities of industrial parks are being expanded, tax and customs benefits are being applied, and various support mechanisms are being implemented to increase the financial capabilities of entrepreneurs.
Head of the Karabakh Territorial Taxes Main Department of the State Tax Service under the Ministry of Economy, Alakbar Mammadov, said that over the past period, more than 25 billion manat ($14.7 billion) has been allocated from the state budget for restoration and construction work in the liberated territories.
Mammadov also said that the volume of foreign investments in the Karabakh region is expanding, too.
Applications received from foreign companies cover 39 countries. Among the applications, the share of investors from Türkiye, Iran, Hungary, Kazakhstan, and Russia is higher. This indicator demonstrates the growing international interest in the region and the attractiveness of the business environment created in Karabakh for investors. Currently, a number of large projects are being implemented with the participation of foreign investors.
Within the framework of the implemented initiatives, projects such as the establishment of pomegranate orchards by Turkish Demiroren and Dost Agropark, Uzbekistan's Agro Sonuat Innovator, the Lithuanian Dominari furniture cluster, Swiss Holcim cement warehouse, and Russian Kamaz service center in the Araz Valley Economic Zone, Pakistan's Azerbaijan Rice Processing Mill LLC, as well as the establishment of a poultry farm by Belarus' Agrokombinat Dzerzhinski OJSC are being implemented. These projects serve to expand the production and service infrastructure in the region.
Mammadov emphasized that the implementation of investment projects in the Karabakh region not only increases economic activity, but also creates conditions for the creation of new jobs, the development of local entrepreneurship, and the introduction of modern technologies. Projects implemented in cooperation with foreign partners make a significant contribution to strengthening the production potential of the region.
In accordance with the priority directions set in the region, agriculture, tourism, processing industry, and the service sector have been identified as the main development areas. The implementation of projects in these areas accelerates the economic integration of Karabakh and serves the formation of a sustainable development model. In the coming period, work will continue to expand cooperation with foreign investors and attract new projects.
