President Ilham Aliyev has signed a new decree amending the "Directions for strategic investment projects eligible for investment promotion documents," originally approved on February 1, 2024.
According to the Operative Information Center-OMM, the head of state's latest directive aims to broaden the scope of strategic projects eligible for state support and investment incentives.
The updated list now includes several key areas: agricultural production and processing within agro-parks; the manufacturing of fertilizers, pesticides, seeds, and feed; the sorting and packaging of agricultural products; the establishment of fourth-generation greenhouse complexes (minimum 3 hectares) equipped with automated climate control systems; the production of agricultural machinery, as well as elevators, grain silos, cold storage facilities, and sorting/packaging equipment; and the manufacturing of industrial products related to information and communication technologies.
Furthermore, the decree refines the criteria for production projects based on local raw materials—such as metal ores, aluminum, oil, gas, chemicals, construction materials, cotton, and silk. It now specifically includes the production of equipment used for renewable energy generation. Additionally, the "First in Azerbaijan" category has been updated to prioritize projects that organize local production of goods not previously manufactured in the country, thereby promoting import substitution and enhancing the export potential of the non-oil and gas sector.
These amendments are part of Azerbaijan's broader economic strategy to foster industrialization, reduce reliance on imports, and create a more favorable environment for both domestic and foreign investors. By incentivizing high-tech agriculture and local manufacturing, the government seeks to strengthen the national economy's resilience and competitiveness in the global market.
