TODAY.AZ / Business

Azerbaijan's High Tech Park preparing program to attract foreign investors

11 June 2018 [13:56] - TODAY.AZ

By Azernews

By Rashid Shirinov

Azerbaijan’s High Tech Park LLC is preparing its own program to attract foreign investors to the country.

The program envisages creation of acceptable conditions for foreign vendors to deploy production in the country.

“They will be able to benefit from all the benefits (tax and customs) envisaged for residents in industrial parks. Our plans include attracting potential producers to Azerbaijan and the High Tech Park is the most appropriate place for the deployment of high-tech production in the country,” the company told Trend on June 10.

It was also mentioned that presently, Acer computers are assembled on the basis of the Mingachevir branch of the High Tech Park. The production was launched by the Azerbaijani company H-Tech. It was earlier reported that the company plans to increase its working capital up to 10 million manats ($5.87 million) by the end of the year.

Presently, the capital of H-tech exceeds two million manats ($1.17 million). The company assembles nettops, desktop computers and monoblocks under the Acer brand.

Private and public sector are among the customers of H-tech. The company’s products are used in the Ministry of Transport, Communications and High Technologies, Ministry of Justice, Azerpost LLC, etc.

The Assembly of Acer computers was launched at the expense of the loan provided by Azerbaijan’s State Fund for Development of Information Technologies.

In general, Azerbaijan is one of the leading countries implementing high technology in the region. Investment in the development of the ICT sector in Azerbaijan is expected to rise to $4 billion by 2020. Today, the country constructs high tech parks in the capital and in regions.

ICT is considered to be one of the crucial spheres for the further development of Azerbaijan's economy and an integral part of the economic and political reforms which are currently implemented in the country. The income to be obtained in the sector in Azerbaijan is projected to hit $9 billion by 2020.


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