On January 29, a press conference was held on the results of the activities of the Nakhchivan Autonomous Republic Ministry of Economy for 2025.
The Minister of Economy of the Nakhchivan Autonomous Republic, Kazım Huseynaliyev, delivered a presentation on the work carried out by the Ministry and its subordinate institutions during the past year.
It was noted that as a result of projects implemented in the field of entrepreneurship in the autonomous republic in 2025, production and service facilities were commissioned under 146 projects, including 97 projects financed through state financial support and 49 projects funded by private investments. Currently, work is ongoing on 113 projects.
The Minister emphasized that in 2025, a total of 47 licenses were issued in Nakhchivan for entrepreneurial activities. Of these licenses, 42.6 percent were related to pharmaceuticals, 12.8 percent to veterinary services, 10.6 percent to freight transportation, 8.5 percent to communications, 4.2 percent to construction, and 21.3 percent to other types of activities.
A total of 9,752 permits issued by the relevant authorities of the Nakhchivan Autonomous Republic were registered in the registry, generating budget revenues of 231.6 thousand manats. Compared to 2024, the number of permits increased by 81.5 percent, while revenues from permits rose by 49.2 percent.
Speaking about export-related activities, the Minister stated that in 2025 the foreign trade turnover of the Nakhchivan Autonomous Republic increased by 3.7 percent compared to 2024, reaching 130.1 million US dollars. In 2025, products manufactured in the autonomous republic were exported to the United States of America, Turkey, China, Russia, Iran, Georgia, the United Arab Emirates, Iraq, Syria, Kyrgyzstan, Tajikistan, and other countries, with total exports amounting to 13.6 million US dollars—an increase of 28.4 percent compared to 2024.
A total of 468 certificates of origin were issued for goods exported from Nakhchivan, which is 30 percent more than in 2024. The export potential of products manufactured in the Nakhchivan Autonomous Republic was expanded, with the export geography increasing from 13 countries in 2024 to 15 countries in 2025. To promote exports and study international experience, 146 entrepreneurs participated in 18 international events held domestically and abroad in 2025, while products from 20 companies were showcased at 7 international exhibitions.
In 2025, 3 Investment Promotion Certificates and 5 Confirmation Documents were issued to business entities. Overall, within the framework of investment promotion mechanisms, it is planned to attract more than 13 million manats to expand local production and to create 130 new jobs.
The Minister noted that budget revenues through the Ministry of Economy of the Nakhchivan Autonomous Republic amounted to 261 million 895 thousand manats, representing a 14.4 percent increase compared to 2024. In the past year, revenues collected through the Ministry accounted for 90.1 percent of total budget revenues.
Speaking about tax-related activities in Nakhchivan, the Minister stated that in 2025, tax revenues collected through the State Tax Service amounted to nearly 260.4 million manats, which is 14.9 percent more than in 2024.
It was noted that tax revenues from the non-state sector amounted to 185.9 million manats, reflecting a 21.6 percent increase compared to 2024.
In 2025, mandatory state social insurance contributions increased by 10.2 percent compared to 2024, reaching 178.5 million manats; compulsory medical insurance contributions rose by 9.5 percent to 31.7 million manats; and unemployment insurance fund contributions increased by 5.1 percent to nearly 4.7 million manats.
During the year, tax service centers received more than 44,000 individuals and provided nearly 60,000 services. Customer satisfaction with the services provided at the centers stood at 99.6 percent.
In 2025, more than 668,000 informational notifications of various types were sent to taxpayers, 113 meetings were held, and 540 targeted services were provided. During the same period, 6,479 Asan Signature certificates were issued based on 3,689 applications.
As of January 1, 2026, compared to the same period of the previous year, the number of registered active objects increased by 1.9 percent to 6,090; the number of registered taxpayers increased by 7.4 percent to 54,179; the number of active taxpayers rose by 2.7 percent to 22,360; the number of VAT payers increased by 20.6 percent to 855; the number of registered active POS terminals increased by 65.7 percent to 4,296 units; the number of registered Online Cash Registers increased by 1.1 percent to 3,259; the number of active bank accounts rose by 35.7 percent to 29,778; and the number of newly opened bank accounts in 2025 increased by 18.1 percent to 8,234.
In 2025, turnover from cashless transactions increased by 19.6 percent compared to 2024, reaching 1 billion 227.3 million manats. Turnover through registered POS terminals increased by 21.9 percent to 136.5 million manats, turnover through Online Cash Registers rose by 26 percent to 509.8 million manats, and total turnover of taxpayers increased by 5.9 percent to 1 billion 456.5 million manats.
The Minister also noted that the innovative “VAT Refund” mechanism, aimed at refunding a portion of VAT, continues to be successfully implemented in the autonomous republic. In 2025, the amount refunded to consumers increased by 25.8 percent compared to 2024, exceeding 1.8 million manats.
Addressing activities in the property sector, the Minister stated that in 2025, 98 state-owned properties were privatized, and of the 1.2 million manats obtained from privatization, 962.9 thousand manats were transferred to the budget of the autonomous republic. During the year, 259 new lease agreements were signed, and the terms of 208 lease agreements were extended. Compared to 2024, the number of new lease agreements increased by 76.2 percent, while the number of extended agreements rose by 21.6 percent. Revenues from leasing state property amounted to 704.5 thousand manats, representing a 30.9 percent increase compared to the same period of 2024. As a result, in 2025, a total of 1 million 667 thousand manats was transferred to the budget of the autonomous republic from the privatization and leasing of state property.
In 2025, the number of applications received through electronic services in the relevant field increased by 14.2 percent compared to 2024, reaching 7,410. It was noted that consistent measures were also implemented in the areas of state registration of real estate, inventory, and address registry management. In 2025, ownership rights were registered for 10,601 real estate properties, including 4,664 land plots, 4,003 individual residential and garden houses, 1,423 apartments, 470 non-residential buildings and premises, and 41 enterprises registered as property complexes.
Kazım Huseynaliyev stated that revenues from real estate registration, technical inventory, and cadastral services exceeded 2.4 million manats, while state duties amounted to nearly 1.1 million manats.
During the reporting period, 531 land-use plans were prepared, 111 maps and plans were drafted, and 81 auctions were held, generating service fee revenues of 21.6 thousand manats from auctions and tenders.
The Minister of Economy of the Nakhchivan Autonomous Republic, Kazım Huseynaliyev, also noted at the press conference that in 2025, the Entrepreneurship Development Fund provided credit financing totaling 13.4 million manats, which is 3.1 times more than the previous year. In 2025, the Fund financed 163 projects, which are expected to create 373 new jobs.
It was reported that 67.5 percent of the financed loans were directed to industry, 21.1 percent to agricultural production, and 11.4 percent to the service sector. Ninety-two percent of the projects financed by the Fund were implemented in the regions of the autonomous republic.
The Minister noted that as of January 1, 2026, the credit portfolio of the Entrepreneurship Development Fund amounted to 50.3 million manats. In 2025, repayments totaling 10.2 million manats were ensured for concessional loans, including 2.4 million manats related to non-performing loans.
Afterward, Minister Kazım Huseynaliyev answered questions from media representatives.
