BAKU: Pakistani businessmen consider investing in Azerbaijan’s technology parks and industrial districts, Azerbaijani Ambassador to Pakistan Ali Alizade said in an interview with Azerbaijani news agency.
A number of technology parks and industrial districts have already been created in Azerbaijan, the diplomat said. They offer favorable conditions for business, tax exemption, simplified procedures for entrepreneurial activity and attracting foreign investment, which is also interesting for Pakistani business circles, he added.
He said the Azerbaijani Embassy provides Pakistani businessmen as well as public and private enterprises with information about Azerbaijan’s technology parks and industrial districts. Pakistani businessmen have big opportunities to benefit from participation in these projects, the diplomat said.
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 value-added tax on import of equipment for a period of seven years.
The Ambassador said Pakistan is currently studying the possibilities of using the resources of Azerbaijan’s telecommunications satellite Azerspace-1.
“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.
