Baku: Azerbaijan has unveiled an ambitious investment strategy aimed at boosting its industrial sector, with over $4 billion committed to developing industrial zones. Samad Bashirli, Deputy Minister of Economy, made this announcement during a panel discussion at the Azerbaijan International Investment Forum.
According to Azeri-Press News Agency, Bashirli highlighted the progress made in the industrialization of the non-oil sector, driven by the establishment of industrial zones. He noted that more than 170 enterprises are currently registered in these zones, contributing significantly to the economy by creating over 10,000 jobs.
Bashirli also discussed the strategic measures needed to foster an attractive environment for industry, which include maintaining a stable macroeconomic framework, implementing a competitive tax system, and simplifying customs procedures. He stressed the importance of attracting foreign direct investments to bridge the investment gap and enhance the country’s industrial capabilities.