Azerbaijan approves state program for Nakhchivan’s socio-economic development
Azerbaijan’s President Ilham Aliyev on Monday signed an order approving the “State program for Socio-Economic Development of the Nakhchivan Autonomous Republic for 2023-2027”.
The Finance Ministry has been instructed to prepare and submit to the Cabinet of Ministers proposals for financing the program in 2023-2024 within a month, and proposals for financing the program in 2025-2027 by July 1, 2024, News.Az reports.
The Center for Analysis of Economic Reforms and Communications will monitor and evaluate the implementation of measures provided for by the state program on behalf of the Cabinet of Ministers.
The finance and economy ministries, the Cabinet of Ministers have been instructed to take appropriate measures annually to allocate the necessary financial resources in the process of drawing up the state budget of the Republic of Azerbaijan, state investment programs and the state budget of the Nakhchivan Autonomous Republic in order to finance the activities provided for by the state program.
Under the newly-approved program, a free economic zone and an industrial park will be created in the Nakhchivan Autonomous Republic.
In addition, the program provides benefits to legal entities and individuals in tax, customs, social and other spheres, as well as strengthening cooperation and information exchange between the NAR state bodies and state structures of the Republic of Azerbaijan.
The program includes measures for the development of various types of tourism (winter, rural, ECO, etc.), the preparation of a tourist atlas, work on the inclusion of historical architectural monuments of the Nakhchivan Autonomous Republic in the UNESCO list of intangible cultural heritage, as well as the creation of tourist and recreational zones.