Azerbaijan creates favorable business and investment environment in industrial zones

By Trend

Favorable business and investment environment has been created in the industrial zones of Azerbaijan, Chairman of Azerbaijan’s Agency for Development of Economic Zones Elshad Nuriyev told Trend.

According to him, exemption from income tax, land lease and a number of other incentives contribute to growth of entrepreneurs' interest in starting a business on territory of industrial zones.

"To date, 104 business entities have received status of a resident of industrial zones, 58 of them have already started work. In addition, they have invested 6.4 billion manat ($3.7 billion) in industrial zones and created more than 10,000 jobs," Nuriyev said.

Nuriyev also added that it is planned to additionally invest about 400 million manat ($235.3 million) in industrial zones and create more than 2,600 new jobs at next stage, within the framework of existing projects.