Over 1,500 companies apply for participation in projects in Karabakh

To date, more than 1,500 companies, including nearly 500 foreign companies, have applied for participation in the projects implemented in the liberated territories of Azerbaijan, Report informs, citing the Ministry of Economy.

Residents here are exempted from income, property, land and simplified tax for 10 years. Imported machinery, technological equipment and devices are exempted from VAT and customs duties. In addition, the creation of new agro parks has started in the region. The foundation of the first such project - Dost Agropark - was laid two years ago in Zangilan with the participation of the presidents of Azerbaijan and Türkiye. Currently, 3 agricultural parks are operating in the region. All this creates favorable conditions for local and foreign companies to start entrepreneurial activities in the region, create new jobs, and ensure employment.