JABRAYIL DISTRICT – The Araz Valley Economic Zone in Azerbaijan is poised to become a significant employment hub, promising to create over 950 permanent jobs through its new industrial park developments, as announced by the Economic Zones Development Agency (EZDA).
According to Trend News Agency, EZDA spokesperson Elchin Kazimov revealed the job growth prospects during a recent visit by the head of state to the Eastern Zangezur economic region. This visit included a groundbreaking ceremony for three new enterprises within the industrial park, which will focus on manufacturing disinfectants, liquid detergents, bleach solutions, and developing a furniture cluster. “These enterprises are planned to be operational by 2025, enhancing the domestic non-oil sector’s production capacity, expanding export possibilities, and significantly contributing to employment,” Kazimov said.
The initiative is part of a broader strategy to revitalize the industrial potential of Karabakh and accelerate economic diversification. The investments, totaling over 60 million manat ($35 million), are expected to bolster the local economy and directly support the creation of more than 950 jobs in the industrial park.
Kazimov also highlighted the strategic location of the Araz Valley Economic Zone, covering 200 hectares and benefitting from its proximity to newly constructed highways and railways. This advantageous positioning makes it an attractive site for entrepreneurs and contributes to the park’s appeal as a center for logistics and trade.
Currently, the industrial park hosts 13 residents and one non-resident, with total investments projected to reach 133.8 million manat ($78.7 million), potentially creating over 2,000 jobs. “To date, residents have invested more than 20 million manat ($11.7 million), already generating more than 40 permanent jobs,” Kazimov noted. Additionally, the employment strategy for the park prioritizes residents from Jabrayil and surrounding districts, further integrating the community into the economic development.
Residents of the park benefit from comprehensive state-funded infrastructure and significant tax incentives, including exemptions from property, land, and income taxes, as well as VAT and customs duties on the import of production-related machinery and equipment for a decade. Additional incentives in the liberated territories include preferential bank loans, subsidies for social security payments, and discounts on utilities.
The Araz Valley Economic Zone was established by presidential decree on October 4, 2021, with plans to further develop logistics and trade centers, warehouse complexes, and service centers, which are expected to significantly impact the regional economy.