The 4th anniversary of the 2nd Karabakh War, which resulted in the final victory of Azerbaijan and the liberation of Karabakh from Armenian occupation, was celebrated with enthusiasm. While Azerbaijan connects the region to the homeland, the EU Reporter publication, known for its closeness to the European Union, also discussed Baku’s new development plan in both Karabakh and Eastern Zangezur. Azerbaijan is determined to make the region an international center with large investments.
GIANT INVESTMENT PROJECT
With the initiative called ‘Great Return Program’ by Azerbaijan, a new development and infrastructure development plan was put into effect in both regions. Critical superstructure works such as houses, public buildings and industrial areas were quickly restarted in both regions with a total area of 17 thousand km. While the publication underlined that both regions “lagged behind due to indifference” during the Armenian occupation, it stated that Baku has invested more than 10 billion dollars in the region so far within the framework of two separate economic programs.
INDUSTRY MOVE
While 8 thousand people will return to the region within the framework of the program, a livable space will be created for 34 thousand 500 families in the first stage. It is also planned to turn the region into a completely new and modern city and industrial center in 2026. Within the scope of the program, efforts continue to open agriculture, mining and workplaces to ensure prosperity for the people of the region. It is also among the information that two industrial zones will be completed in the region soon. The investments to be made are aimed to reach a value of 332 million Azerbaijani manats (approximately 6 billion 675 million Turkish liras).
INCENTIVE WILL BE GIVEN
The government has also announced a comprehensive tax exemption package to encourage development and investments. Accordingly, those who want to do business in Karabakh will be exempt from tax items such as VAT, customs duty and dividend income for 10 years. While a low-interest loan pool of 500 million manats is created, social insurance support is provided for employees. Additional salary support is currently offered by the government to those in professions that require expertise. The publication also underlines that thanks to these programs, 719 million manats of private investment has been achieved in the region so far.
SHUSHA, THE PEARL OF THE REGION
The government’s regional development plans include quadrupling the hydroelectric power in 3 years, creating solar panels in an area of 803 hectares, turning two regions that stand out with their natural beauty into cultural and tourism centers, and turning Shusha into an international tourism center.
AIRPORT IS OPENED
On the other hand, within the framework of the government development plan, it has not been used for 30 years and will be opened in 2021. International Fuzuli Airport, which was made operational again with the ceremony attended by President Recep Tayyip Erdoğan and Azerbaijani President İlham Aliyev, has also been opened to flights within the framework of the development plan.
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