By Trend

Reintegration of Azerbaijan's lands liberated from Armenian occupation into the country’s economy will be ensured, Trend reports with reference to ‘Strategy for socio-economic development of Republic of Azerbaijan for 2022-2026’ approved by President Ilham Aliyev.

Revival of economic activity and the formation of a favorable business environment will be ensured. Export-oriented value chain and permanent jobs will be created as a result of attracting investments with high technological potential to liberated territories.

Smart business models based on a circular economy will be created. Additionally, the specialization of value chain in economic activities will be encouraged, taking into account sources of fossils and minerals. Natural resources in mining sphere will be included in circulation within the framework of a public-private partnership.

Competitive agricultural production and processing of agricultural products will also be established, and developed infrastructure will be created for it.

The document notes that the Karabakh region will become an attractive tourist recipient, accessible to tourists, offering unique, high-quality and competitive services.

Work will be carried out, at the first stage, to create economic zones in the form of trade, service and logistics centers, industrial parks with a modern production infrastructure with the support of private projects, in parallel with the reconstruction and construction in the region.

Rapid recovery and sustainable development of the economy, will be supported by modern infrastructure, including competitive manufacturing and processing industries.

Wide range of incentives will also be provided for entrepreneurs in priority areas, exemptions from tax and customs fees will be introduced, and concessional financing instruments will be applied.

Additionally, a mechanism for insuring loans and investments will be created.

With the expansion of usage of environmentally friendly and cost-effective renewable energy sources (RES), the concept of a ‘green energy zone’ will be applied.

The share of territories liberated from occupation in total production, exports and employment will steadily grow as a result, said the document.