Initial investment for Aghdam Industrial Park to be over AZN100 million - official

"Intensive activities are being implemented to attract investors to the Aghdam Industrial Park. We have received appeals from entrepreneurs to this effect," Deputy Economy Minister Niyazi Safarov told the Azerbaijani Investment and Culture Summit, organized by the Small and Medium Business Development Agency (SMBDA) and the Youth Forum of the Organization of Islamic Cooperation (ICYF) with support of the Ministries of Economy and Culture.

According to him, the initial investment cost of the appeals totals over AZN100 million: "These projects are being assessed. I think the work on the implementation of these projects will soon begin."

He noted that it is necessary to develop and implement measures, including comprehensive projects, for the effective and coordinated solution of issues of restoring decent life in the liberated territories and achieving construction in all areas: "Based on this need, in order to restore and reconstruct the liberated territories on the basis of the concept document, integrate it into the country's economy, ensure sustainable and balanced development, achieve social welfare that meets high standards," a state program for the rehabilitation and sustainable development of the liberated territories of the Azerbaijani Republic for 2021-2025 years has been drafted.

At a new stage of development, characterized by the return of our historical lands, new reforms have increased the resilience of the national economy and Azerbaijan has become the initiator of major regional projects.

The strong socio-economic foundations, formed over a long period of time, and the restoration of sovereignty have created ample opportunities for the use of the potential of economic, social, and natural resources of the liberated territories for the sake of the development of our people.

Adhering to the principles of sustainable development in the liberated territories, the successful implementation of restoration and construction projects, the creation of a competitive economy for the foundations of socio-economic development, and ensuring sustainable settlement of the population in their native lands are among the main priorities of the state policy.

Niyazi Safarov noted that Karabakh's rich potential opened wide horizons for new sources of economic growth and strengthened the necessary foundations for large-scale reforms, especially economic construction and rapid integration of the liberated territories for the future sustainable development of the country.

"Undoubtedly, due to the investment opportunities, to be created in Karabakh, the sustainable development of our liberated territories, its reintegration into the country's overall economy, comprehensive promotion of local and foreign private initiatives in the region, especially cooperation in the development of public-private partnership will be achieved."

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