Azerbaijani authorities have spent about $7 billion on Nagorny-Karabakh's reconstruction in the three years the region has been under Baku's control, the president of the country's Confederation of Entrepreneurs Organizations, Mammad Musayev, said on Monday
BAKU (Pakistan Point News / Sputnik - 17th July, 2023) Azerbaijani authorities have spent about $7 billion on Nagorny-Karabakh's reconstruction in the three years the region has been under Baku's control, the president of the country's Confederation of Entrepreneurs Organizations, Mammad Musayev, said on Monday.
"About 80 investment projects are being carried out in Nagorny-Karabakh. Over the past three years, about $7 billion have been spent on the restoration of liberated territories (in Nagorny-Karabakh's region)," Musayev at the 35th meeting of the board of directors of the Islamic Chamber of Commerce, Industry and Agriculture held in Baku.
These investments projects are mostly in industry, agriculture, commerce and services.
Azerbaijani authorities plan to resettle about 2,000 families in Nagorny-Karabakh by the end of 2023. In March, Azerbaijani President Ilham Aliyev announced the resettlement to the region of more than 400 people who had previously lived there but were forced to flee to escape the hostilities.
Armenia and Azerbaijan have fought two wars over disputed Nagorny-Karabakh, an Armenian-majority mountainous region wedged in between the two nations where both have a military presence. The decades-long conflict reignited in fall 2020, marking the worst escalation since the 1990s. Hostilities ended in a Russia-brokered ceasefire and the deployment of Russian peacekeepers to the region.
