President signs decree to speed up economic dev't of liberated lands [UPDATE]

President Ilham Aliyev signed a decree on some measures to speed up economic development on the liberated territories of Azerbaijan, Azertag reported on December 10.

In accordance with the order, to create favorable conditions for accelerating the economic recovery in the liberated territories and increasing investment attractiveness, creating the modern and efficient production, trade, and service infrastructure, introducing innovative technologies, realizing industrial potential, preparing optimal benefits, incentive mechanisms and improving the entrepreneurial activity, the Azerbaijani Cabinet of Ministers was charged with the implementation of following issues:

1. prepare the proposals on the below-mentioned spheres within three months and submit them to the Azerbaijani President:

1.1. Effective management of economic resources and workforce in the liberated territories, the use of tax incentives, social insurance and other benefits to creating the processing industry and service infrastructure;

1.2. Stimulating private initiatives in the liberated territories, improving investment promotion mechanisms, introducing customs and tax incentives for the import of raw materials and other materials for entrepreneurs engaged in production in these territories;

1.3. Introducing benefits on utilities, namely, electricity, natural gas and water consumption, for entrepreneurs engaged in production in the liberated territories;

1.4. Attracting qualified specialists to the liberated territories, as well as introducing a quota for migrant workers and improving the procedure for issuing the work permits;

1.5. Expansion of opportunities for access to the funds for entrepreneurs operating in the liberated territories, and strengthening of the necessary state support in this sphere;

1.6. Support for investors introducing environmentally friendly technologies in the liberated territories, creating "green growth" and using renewable energy sources;

1.7. Development of partnership between the public and private sectors for the construction of residential areas in the liberated territories.

2. To resolve other issues arising from this order.