Companies from the Gulf Cooperation Council (GCC) member countries are showing significant interest in operating in Azerbaijan’s liberated territories, Azerbaijani Deputy Economy Minister Anar Akhundov said, Report informs.
Akhundov made this statement at the 2nd Economic Forum of Azerbaijan-GCC member countries held in Baku, organized by AZPROMO with the support of Azerbaijan’s Ministry of Economy.
“Attracting private investments for the development of liberated territories is one of our main priorities, and favorable conditions for investors have been created in these areas. To enhance the investment attractiveness of the Karabakh and Eastern Zangazur economic regions, we have introduced concessions on income, property, land, and simplified taxes for a period of 10 years starting from January 1, 2023. Techniques, technological equipment, and facilities, as well as raw materials and materials, have been exempted from VAT and import customs duties for 10 years from the beginning of 2023,” he noted.
“Additionally, the dividend income of shareholders of legal entities has been exempted from tax for 10 years from January 1, 2023. Companies from the GCC countries are actively interested in operating in the liberated territories, and negotiations are underway with some companies in this direction,” the deputy minister added.