17:23 - 7.10.2025

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October 7, Fineko/abc.az. The Ministry of Economy of Azerbaijan has issued more than 610 investment promotion documents for various projects.

ABC.AZ reports that the head of the sector of the Ministry's Industry Department, Vusal Bagirov, said this at a seminar on development of the textile industry in Baku.

According to Bagirov, the documents provided for investments worth over 7.4 billion manats and creation of more than 40,000 jobs.

"The mechanism of investment incentives has been applied since 2016. Within its framework, entrepreneurs receive seven-year tax benefits," he added.

Bagirov pointed out that according to Cabinet Ministers’ relevant decision, VAT exemption is provided for the import of a number of fixed assets, machinery and equipment. Nearly 25% of the positions on this list are in the textile industry.