27.06.24
74 enterprises with Kyrgyz investment have been registered in Azerbaijan, - said vice-president of the Business Association of Azerbaijan. Such data was announced on June 27 by the vice-president of the National Conference of Entrepreneurs' Organizations of the Republic of Azerbaijan Vugar Zeynalov at the international business forum of the Organization of Turkic States, which is held in Issyk-Kul.
According to Zeynalov, 23 out of 74 enterprises with Kyrgyz capital in Azerbaijan are active. "This is a very small number, which needs to be increased," Zeynalov said. According to him, the amount of Azerbaijan's investments in Kyrgyzstan is $5.4 million, and the amount of Kyrgyzstan's investments in Azerbaijan is $5.54 million. Zeynalov noted that the trade turnover between the countries has increased 3.8 times compared to last year. He also reminded that the Trade House "Kyrgyzstan" was opened in Azerbaijan in 2022.
"As for the tourism sector, Azerbaijan is investing in the construction of a 5-star hotel in Issyk-Kul in the village of Kara-Oy," the vice-president of the business association emphasized. He noted that according to the agreement, Azerbaijan has committed to build this hotel within 3 years. "At the same time, Kyrgyzstan provided land of 17 hectares and benefits for 10 years, exempting from taxes," Zeynalov said.
