Azerbaijan, Russia’s Dagestan have great potential for development of investment co-op

Azerbaijan and Russia’s Dagestan have a huge potential for the development of investment cooperation, Minister of Economy and Territorial Development of Dagestan Gadzhi Sultanov said in an interview with Report.

“Seven industrial parks and two priority development territories have been created in Dagestan, the residents of which are provided with state support and benefits established by law,” he said, adding that investors from Azerbaijan can participate in joint projects and place production in the territories of preferential zones.

He noted that a promising direction is the creation of a tannery on the territory of Dagestan.

“Thus, quite a large number of shoes are produced in Dagestan, and many Dagestan manufacturers buy leather outside the republic,” Sultanov stressed.

He added that Azerbaijani companies have extensive experience in the construction of logistics complexes, in connection with which the implementation of joint projects in the Republic of Dagestan has a good prospect for mutually beneficial cooperation.