Working Group mulls ways of boosting economic growth in liberated Karabakh

The regular meeting of the Working Group on Economic Issues of the InterAdministrative Centre operating under the Coordinating Headquarters created for the centralized resolution of issues in the liberated territories held a meeting in Agdam.

The meeting discussed accelerating economic revival in the liberated territories, increasing the investment attractiveness of the region, and ensuring stable employment.

First Deputy Economy Minister, Head of the Working Group Elnur Aliyev noted that in accordance with the instructions of the president, complex programs, and large-scale restoration measures, including infrastructure projects, are being implemented in the direction of the development of the liberated territories. It was stated that according to the I State Program on the Great Return to the liberated territories, the creation of modern and effective production, trade, and service infrastructure, the realization of industrial potential, as well as the preparation of optimal concessions and incentive mechanisms are among the main tasks.

At the event, information was given on the work done in order to accelerate the economic revival and create favorable conditions for increasing investment attractiveness in the liberated territories, including tax and customs concessions, expanding access to financial resources for entrepreneurs, subsidizing social insurance premiums, and other concessions. It was emphasized that stimulating tools and concessions will promote the formation of a safe and decent standard of living in the region as well as Karabakh, the effective use of the socio-economic potential for the sake of the people's wellbeing, especially the improvement of the quality of human capital, the development of science and knowledge-based fields, the increase of labor productivity and competitiveness, and the increase of employment.

Bashir Hajiyev, the Deputy Special Representative of the Azerbaijani President, spoke about the restoration and construction works carried out in the liberated territories included in the Karabakh economic region (except for the Shusha district).

Shaiq Adigozalov, the sector manager of the Administration of the Azerbaijani President, and a member of the working group shared his views on ensuring employment in the liberated territories. Other members of the Working Group reported on the work done in this field by the institutions they represent. The members of the Working Group discussed the reports presented at the meeting.

The Working Group on Economic Affairs members got acquainted with the projects implemented in the Agdam region, including the work done in Agdam Industrial Park.