DOI: https://doi.org/10.36719/2789-6919/46/82-87
Zahid Ganbarov
Nakhchivan State University
https://orcid.org/0009-0008-8287-1155
zahidislam@mail.ru
Investment Climate of Nakhchivan: New Challenges in Regional Development
Abstract
This article provides a comprehensive analysis of the investment climate of the Autonomous Republic of Nakhchivan and explores new challenges in the context of the region's sustainable development. With its geopolitical position, economic resources and social potential Nakhchivan occupies an important place in Azerbaijan's regional development strategies. Although infrastructure projects implemented in recent years, the creation of industrial parks and state support for the agriculture and tourism sectors have increased the region's investment attractiveness, some structural and institutional problems still exist.
The article provides a detailed analysis of the main factors affecting the region's investment flows - such as the legal and regulatory framework, logistics capabilities, human capital, access to energy resources, and simplification of customs procedures. At the same time, existing economic challenges - blockade conditions, limited digital infrastructure, lack of qualified personnel, and a weak innovation environment - are noted.
The study concludes that in order to form a sustainable and efficient investment environment in Nakhchivan, it is important to improve not only the physical infrastructure, but also the institutional and legal systems. The article also puts forward recommendations on strategic directions such as attracting foreign and local investors, sectoral diversification of investments, and transition to a green economy. The author concludes that optimizing the investment climate will play a crucial role in the regional development of Nakhchivan, and the success of this process will depend on the ability to adapt to new economic challenges.
Keywords: Nakhchivan economy, investment climate, foreign and local investments, investment promotion, regional development, efficient use of local resources