From September on, the Neftchala district will not be associated exclusively with fish and an iodine-bromine plant. The local industrial quarter has already received 8 calls from investors to provide them with resident status, the Deputy Economy Minister Sevinj Hasanova told reporters during the public hearings on Industrialization and Innovative Development.
"So far, local investors, however, have discussed the possibility of attracting foreign capital against the backdrop of government benefits. We hope that on this background, interest in the activities on the territory of NIQ is a multiple increase," said the official, noting that in addition to processing and preserving of fish production it is planned to establish production of cars here.
Recall, the President of Azerbaijan Ilham Aliyev on February 2 last year signed a decree on the establishment of an industrial quarter in Neftchala, entrusting the organization and regulation of its activity to the Azerbaijan Investment Company with 100% state participation (AIC charter capital is 160 million AZN).
Currently, residents of the quarter are two entrepreneurs, engaged in the production of fish feed as well as pumps and trailers. --17D-
Economics
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Azerbaijan and Iran are actively discussing the construction of a strategic railway line that will connect the East Zangezur Economic Region with the Nakhchivan Autonomous Republic, according to Rovshan Rustamov, Chairman of Azerbaijan Railways CJSC. Rustamov disclosed the details of these talks during his recent visit to Iran, where he met with Jabbar Ali Zakeri Sardrodi, head of the Iranian Railway Administration.
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Agricultural land in Azerbaijan's liberated territories may be leased to business entities through investment tenders. This is reflected in the draft law on proposed amendments and additions to the "Law on Land Lease." The document was discussed at the meeting of the Agrarian Policy Committee of the Milli Majlis (Parliament) on October 14.
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According to preliminary data released by the State Statistics Committee, as of October 1 of the current year, Azerbaijan's economically active population stood at 5.304 million people, of which 5.021 million were employed. These figures highlight the relatively stable labor market in Azerbaijan, as the same number appears in the data for the last three years.
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Azerbaijan witnessed a modest yet steady increase in nominal incomes in the first nine months of 2024, as incomes grew by 6.1% compared to the same period in 2023. This rise brings the total nominal income of the population to 61.587 billion manats, averaging 6039.2 manats per person. This is reported by the State Statistics Committee.
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