Azerbaijan attracts investors for development of ICT market
By Huseyn Veliyev - Trend:
Azerbaijan has developed investment packages for future residents of the Park of High Technologies of the Ministry of Communications and High Technologies, a source on the telecommunications market of Azerbaijan told Trend.
The source said that the three packages of proposals were prepared, each of which has its own advantages and can cause the interest of investors.
“The main goal is to attract both local and foreign investors to the development of High-Tech Park,” said the source. “The matter rests in tax benefits, which are provided for the residents of High-Tech Park. It is namely them who contribute to attracting of both high-tech investors and investors of the real estate market to cooperation. Thus, incentives are provided for investors of the real estate market as well, which can also be represented in the High-Tech Park as residents. Accordingly, the benefits can become guarantee of the payback of facilities and offices in the High-Tech Park erected by them.”
Currently, four options of tax benefits are approved at the level of the Azerbaijani parliament. The matter rests in the benefits on VAT on import of equipment by the residents of the High-Tech Park, on profit for seven years, real estate and land tax.
“In addition, mechanisms are being developed for the application of customs privileges now,” he said. “High-Tech Park prepared 12 new proposals, which are currently at the stage of optimization. The proposals are based on international experience and are provided for the development of specific sectors of the economy.”