Karabakh's share in non-oil sector may reach 5-10% by 2030

The economy will develop in six main directions in Karabakh: agrarian business, food industry, mining industry, green energy, logistics, and tourism. The agricultural business will involve 200,000 hectares of agricultural lands, pastures, as well as tens of thousands of hectares of unused lands along the former line, executive director of the Center for Analysis of Economic Reforms and Communications Vusal Gasimli told Report.

He said there is a plan to develop the mining industry in Karabakh: "In particular, owing to the Soyudlu field, Kalbajar may turn into the center of mining industry of the region. The share of the Karabakh region may make up 5.3% of the country's mining industry and 4.3% of the refining industry."

Gasimli noted that Jabrayil is a logistic hub through which communications pass with Turkey and Iran, and other regions of Karabakh. The share of the Karabakh region in transport services in Azerbaijan is estimated at 4.9%. In its status as a cultural center, Shusha will become the main driver of tourism not only for Karabakh but also for Azerbaijan, in general, and the Islamic and Turkic world in the years to come.

According to him, Karabakh has the potential to turn the region into a green energy zone. The Khudafarin, Gyz Galasi, Sugovushan stations, and small hydroelectric power plants in Kalbajar and Lachin, can meet the basic energy needs of the Karabakh region. BP's intention to invest in green energy in Karabakh is an additional stimulus to attracting investment in alternative energy and the region, in general.

Also, by 2030, Karabakh's share in the non-oil sector of Azerbaijan may make 5-10%.