The scope of financial access tools, guarantee and subsidy mechanisms for entrepreneurs has been expanded, while part of exporters' transportation and customs clearance costs is being compensated. The investment promotion mechanism also applies to a number of strategic sectors, including agro-parks and modern greenhouses, Deputy Minister of Economy Azer Bayramov said at today's meeting of the Milli Majlis Committees on Agrarian Policy, Family, Women and Children Affairs, and Science and Education, APA reports.
He stated that the scope of financial access tools, guarantee and subsidy mechanisms for entrepreneurs has been expanded, while part of exporters' transportation and customs clearance costs is being compensated:
"The investment promotion mechanism also applies to a number of strategic sectors, including agro-parks and modern greenhouses.
State support for entrepreneurship is particularly important in our liberated territories, because the sustainability of the Great Return depends on the jobs created and production established there. Extensive incentives and exemptions are being applied to develop the private sector in these territories.
The loan product offered by the Azerbaijan Business Development Fund for these territories covers not only agriculture and aquaculture but also education, social services, and ICT projects, enabling the private sector to contribute to reconstruction efforts.
In addition, scientific research and development have been included among the areas of activity eligible for tax and customs incentives on imports in these territories. This incentive reduces equipment and material costs for entities engaged in scientific research activities in these territories and creates additional opportunities to strengthen ties between science and production," he said.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
