Afət Ziyadqızı
From 2027, the state will cover 50% of the fee for connecting industrial and agricultural facilities to the electricity grid, helping reduce initial investment costs.
Operative Information Center-OMM reports that First Deputy Economy Minister Elnur Aliyev made the announcement at the 3rd National Competitiveness Forum.
The deputy minister said the measures were important in enabling businesses to launch projects and expand their operations.
“Their practical impact will depend on the clarity of the implementation conditions, how quickly applications are reviewed and whether businesses that meet the relevant criteria can access these opportunities. The investment promotion mechanism has also been expanded. It currently covers 17 strategic areas, and its term has been extended until 2029. As of September 1, 528 business entities had been issued 633 investment promotion documents. The projects envisage 9.3 billion manats in investment and the creation of about 47,000 jobs,” Elnur Aliyev said.
