AZPROMO: Over $5B invested in Azerbaijan's industrial zones

More than $5 billion has been invested in Azerbaijan's industrial zones to date, creating over 20,000 new jobs, Yusif Abdullayev, Executive Director of the Azerbaijan Export and Investment Promotion Agency (AZPROMO), said during the Islamic Development Bank (IsDB) Group's 51st Annual Meetings in Baku, Report informs.

Abdullayev noted that industrial zones cover more than 1,700 hectares, with residents exempt from profit, property, and land taxes for 10 years, as well as VAT and customs duties on imported equipment and machinery.

The director highlighted the Alat Free Economic Zone (AFEZ) in Baku's Garadagh district, strategically located near the Baku International Sea Port and major transport corridors.

According to him, the zone offers a competitive business environment based on international best practices, supporting export‑oriented industries, high‑tech production, and innovative projects. Benefits include free repatriation of profits, 100% foreign ownership, strong intellectual property protection, and a special regulatory framework.

He added that the government continues reforms to promote investment, simplifying business procedures, digitizing tax and customs systems, strengthening investor rights, optimizing licensing, and expanding e‑government services.

Abdullayev highlighted that Azerbaijan offers an open and liberal investment regime with free capital movement, full profit repatriation, and equal rights for local and foreign investors. Entrepreneurs with investment promotion certificates enjoy tax exemptions and incentives.

The official also emphasized that the Zangazur Corridor will strengthen Azerbaijan's role as a logistics hub. Logistics and warehousing are among the most promising investment areas, with opportunities in logistics parks, Class A warehouses, cold storage facilities, distribution centers, container terminals, forwarding services, and digital logistics platforms.

He further stated that the corridor is expected to significantly boost the country"s transit potential.