New residents join Azerbaijan's Pirallahi, Mingachevir high-tech parks

23 February 2021 13:15 (UTC+04:00)

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Two more companies operating in the field of high technologies have become residents of high-tech parks in Azerbaijan’s Pirallahi district and Mingachevir city, Trend reports referring to the Innovation Agency under the Ministry of Transport, Communications and High Technologies.

According to the agency, the Hesab Shop project, owned by GoldenPay OJSC, has been assigned the status of a resident in the Pirallahi High-Tech Park, and the Iglime project, owned by Kibrit Tech LLC, in the Mingachevir High-Tech Park.

"The Hesab Shop project is an e-commerce platform that allows small, medium and large companies in the field of online commerce to create a new sales channel online," the agency said.

As the agency noted, the first and largest online payment platform in Azerbaijan, hesab.az, represents a high-quality and professional online trading platform in the country's market and seeks to hold a large market share.

"The Mingachevir Hi-Tech Park’s resident, Iglime company mainly produces instruments for measuring and controlling the temperature and humidity of covered soils and greenhouses in the field of agriculture," pointed out the agency. "The main goal of the project is to serve the technical development of the country's agriculture, stimulate an increase in agricultural production and facilitate the work of greenhouse owners."

The agency’s Chairman Tural Karimli stated that the construction of three new production sites will begin in the near future on the basis of co-financing from the Agency for Innovation and residents.

The residents will be provided with a production site for the development of high technologies, the implementation of activities in a technopark, development of innovative products.

Besides, residents of the technology parks - entrepreneurs who have received a certificate of registration of technology parks and carry out activities there, will be able to take advantage of a number of benefits provided for by the Tax Code of Azerbaijan and the Law on Customs Tariff. So, the residents will be exempted from paying income, property and land taxes, VAT and customs duties on the import of machinery and technological equipment for 10 years, starting from the year of registration in the techno-parks.

The Pirallahi and Mingachevir high-tech parks, subordinated to the Innovation Agency, accept applications from a number of innovative companies to obtain residency status.

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