Lankaran's investment potential attracting local businessmen
By Vusala Abbasova
Lankaran with its fertile soil, sufficient resources, and strategic location, is becoming an attractive region for investment in southeast Azerbaijan.
The area has a unique climate and productive soil and is well suited for farming, animal husbandry, horticulture, fishery, sericulture, apiculture, and hunting.
The Azerbaijani government is supporting economic development in the Lankaran region through allocating funds for investments.
At the same time, the National Fund for Entrepreneurship Support (NFES) under the Economic Development Ministry of Azerbaijan also plans to allocate privileged loans to businessmen who are interested in developing the Lankaran region.
Authorized credit organizations will carry out financing for small projects through privileged loans and local businesses are encouraged to apply to the fund.
The governmental loans target agriculture businesses of the Lankaran region, such as the developing modern irrigation systems, specialized green convenience stores, vegetable growing, tea, livestock breeding farms, and intensive fish farming, as well as the creating enterprises for the production of artificial decorative stones, plastic dishes, dried fruits.
Located on the Caspian Sea, this land is one of the brightest and most beautiful cities in the country, with a subtropical climate that is ideal for growing citrus fruits, rice, grapes, tobacco, as well as for the production of Lankaran's famous tea.
Tea-growing in Lankaran began in the early 1930s, and the current main producer is Azersun Holding.
Lankaran is also known as the city of artisans as the production of handicrafts, copper products, and pottery, have significant importance for the region's economy.
Meanwhile, the development of trade relations with Iranian cities, Turkey, Russia, the Central Asia states, China, and India enables the region to become an important hub of industry, education, and health.
The territory rich with natural resources is covered with cobblestones, sand and clay, and sediments of seashells along the beach. A large natural forest area of rich vegetation covers 22,675 hectares.
It’s a subtropical paradise and its popular resort attracts tourists from around the region.
The city's major landmark is the Lankaran Fortress, established in the 18th century and the Kichik-Bazar mosque from the 19th century.
One of Azerbaijan’s most medieval beautiful cities, Khanege, where you can see the fortifications from the 12th -14th centuries, the mosque and the tomb of Pir Hussein, a minaret and other ancient structures, lies about 100 km from Lankaran.
There is also the House of Mirakhmad khan, constructed in 1913 right in the city centre, being one of the most beautiful architectural monuments of Lankaran.
The elements of national architecture were skillfully used during the construction of the house despite the fact that it was built by French architects.
The NFES has already financed a range of projects in various spheres of different regions of Azerbaijan.
The Fund gave 10 medium-sized loans in the amount of 2.07 million manats (0.3 percent), and 21 larger loans in the amount of 65.11 million manats (0.7 percent).
The state will provide 100 million manats (over $95 million) to the NFES in 2015.
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