Important milestones have been reached in the restoration of the economy, promotion of business activity, and ensuring employment in the territories recently liberated from occupation.
Azernews reports that this was stated by Elchin Yusubov, the Special Representative of the President of the Republic of Azerbaijan for Khankendi city and the Agdere and Khojaly districts, during his speech at the 6th Summer Camp of Diaspora Youth held in Khankendi.
"A total of 506 commercial properties across the region have been leased to entrepreneurs, including 374 in the city of Khankendi, 35 in the Agdere district, and 97 in the Khojaly district. The majority of these facilities are now operational. To date, investments exceeding 56 million Azerbaijani manats have been made by investors in these areas. More than 2,000 jobs have been created through the businesses already up and running. Once all leased properties under existing contracts become operational, the total number of jobs is expected to surpass 5,000".
Yusubov highlighted that the success in economic revival has been greatly supported by the state’s incentive programs implemented in the liberated territories.
Notably, according to the Tax Code, residents of the liberated areas have been exempt from income, property, and land simplified taxes for a period of 10 years starting from January 1, 2023.
Furthermore, social insurance contributions paid by individual entrepreneurs, family farms, and landowners will be fully subsidized by the state budget over the same period.
Additionally, entrepreneurs engaged in production activities in these territories will receive monthly financial support amounting to 20% of their utility payments for the next 10 years, subsidized by the government.
