Investments in Karabakh and East Zangezur economic regions grow by 3.1 times

In the first quarter of this year, 1 million 130.5 million manats ($665 million) were invested in fixed assets in the Karabakh and East-Zangezur economic regions as the territories liberated from the Armenian occupation.This is up by 3.1 times from an appropriate period of 2022, the State Statistics Committee told Turan. Thus, capital investments in East Zangezur region for January-March made up AZN 664 million (+3.3 times) that exceeds 2.5 times the volume of investments in fixed assets for 2021. At that, 99% of the funds was spent on construction and installation operations. In Zangelan region there was invested AZN 64.5 million (+9.7%), Jabrayil region – AZN 108.7 million (+46.1%), Kelbajar regin – AZN 236.1 million (31.1 times growth), Lachin region – AZN 204.3 million (5.8 times growth), Gubadly region – AZN 50.3 million (+83.4%). The growth of investments in Karabakh region for the first quarter amounted to 2.9 times. In the first quarter of this year, 665,5 mln AZN was invested in the region’s fixed capital. Three regions accounted for 88.4% of those investments. It has to be kept in mind that the Azerbaijani government continues the policy of dosed information about the projects carried out in the territories liberated from the occupation, including the design estimates and contractual costs of the projects. Contractors and suppliers of goods to the region are selected mainly through non-transparent schemes rather than competitive bidding.

Source: Turan News Agency