How Azerbaijan’s industrial zones are driving investment and exports

euronews (in English)

In this episode of Azerbaijan Diaries, Emil Hajiyev discusses how Azerbaijan’s industrial zones are attracting investment, fostering non-oil industries, and contributing to economic diversification and job creation.

Transcript

00:00Personally, I like being a part of the Economic Zones Development Agency because I truly believe

00:08that an agency plays a very crucial role in diversifying the economy of the country.

00:19The Economic Zones Development Agency oversees different types of industrial zones.

00:26One of the main types is industrial park.

00:28In our industrial zones, mainly we focus on non-oil businesses and non-oil industries.

00:34A lot of our residents, we call them residents, those are the projects that are being registered

00:41in our industrial zones.

00:43Residents produces all sorts of goods to reduce the dependence on import and create export

00:54potential for the country.

00:55We have very strategic locations of our industrial zones and also we provide fully modern infrastructure

01:04in all industrial zones.

01:07Some of them even have the railroad networks that is connected to the country's railway

01:12networks.

01:13This all-in-one is the modern infrastructure that we provide to the entrepreneurs that

01:18come to the country.

01:26Moreover, we have the incentives, tax and custom benefits.

01:32All the residents of industrial zones, including local and foreign investors, they are exempted

01:38from several taxes such as land tax, property tax.

01:42Profit tax in Azerbaijan is normally 20%, but our residents do not pay all of these

01:47taxes for the period of 10 years, starting from the registration date as a resident.

01:53We also try to even provide green energy in our industrial zones.

01:59In fact, we have several projects that are being considered to offer the green energy

02:06for certain projects in order to give them the green certificates, which will help them

02:11to penetrate the European markets even smoother.

02:16We are aiming to create more than 20,000 working places, new employments.

02:22And the projects that have already started their production and fully functioning, already

02:27more than 10,000 new jobs were created.

02:30And if we look at the ratio of non-oil products production, more than 17% of the country's

02:39non-oil products are coming from the industrial zones.

02:42Also, if we look at the exports of the country in terms of the non-oil products, more than

02:4825% comes from the industrial zones.

02:51And we think this is quite an impact, a positive impact on the economy of the country.

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