“CNN Türk”: New location for investors – Azerbaijan

CNN Türk has aired a comprehensive report spotlighting Azerbaijan’s investment climate, business opportunities, and major development projects. The feature was based on a visit by journalists from several leading Turkish media outlets to Azerbaijan, including the territories liberated from occupation.

The report includes interviews with Valeh Alasgarov, Chairman of the Board of the Alat Free Economic Zone Authority; Tamerlan Taghiyev, Azerbaijan’s Trade Representative in Türkiye; Agshin Ibishsoy, Head of the Investment and Economic Analysis Department at the Economic Zones Development Agency; as well as Turkish businesspeople currently operating in Azerbaijan.

The feature emphasizes the growing interest of Turkish companies in doing business in Azerbaijan and highlights the advantages available to investors. It notes Azerbaijan’s significant progress in developing its non-oil sector through the creation of free trade zones, industrial parks, and districts aimed at attracting production-focused investments.

The report points out that the free trade zone established in 2020 presents major investment opportunities and that Azerbaijan has Free Trade Agreements with around ten countries in the region, representing a combined market of approximately 280 million people.

It also notes that nine industrial parks and four industrial districts have been established for investors, with the largest being the Sumgayit Chemical Industrial Park near Baku. These initiatives aim to diversify Azerbaijan’s economy, promote regional development, create jobs, and reduce dependency on oil.

The report underscores the active participation of several Turkish companies as investors in the Sumgayit Chemical Industrial Park. Turkish business leaders interviewed highlighted that Azerbaijan’s investor-friendly policies have significantly evolved in recent years, becoming more supportive and encouraging. They praised recent reforms that have fostered a more secure business environment and expressed satisfaction with the tax exemptions granted to investors.

The Turkish journalists’ visit to Azerbaijan was organized by Azerbaijan’s Trade Representative Office in Türkiye.