In an interview with Azerbaijani news agency, Azerbaijan’s Ambassador to Pakistan Ali Alizade said that Pakistani businessmen are considering to invest in Azerbaijan’s technology parks and industrial districts.
A number of technology parks and industrial districts have already been created in Azerbaijan, the diplomat said. They offer favourable conditions for business, tax exemption, simplified procedures for entrepreneurial activity and attracting foreign investment, which is lucrative for Pakistani business circles, he added.
Currently, work is underway in Azerbaijan to create plants and enterprises in the Sumgait Chemical Industrial Park, Balakhani, Garadagh, Mingachevir and Pirallahi industrial parks, Mingachevir, High Tech Park, Sumgait Technologies Park, as well as in Neftchala and Masalli industrial districts.
Residents of Azerbaijan’s industrial parks are exempt from real estate, land, profit taxes, as well as the value-added tax on import of equipment for a period of seven years.
“This issue was previously considered in 2016 during a meeting of the intergovernmental commission on trade and economic cooperation. Azerbaijan offered Pakistan to use the resources of the national telecommunications satellite,” the diplomat said.
He added that the issue is currently being considered by relevant bodies of Pakistan and there is a plan to establish cooperation in this sphere.
