TODAY.AZ / Business

Industrial parks, regions in Azerbaijan awaiting new investments

08 June 2019 [10:31] - TODAY.AZ

By Trend

This year, 8 more facilities will start their work, in addition to 23 facilities already operating in industrial regions  in Azerbaijan, Azerbaijani Economy Minister Shahin Mustafayev said, Trend reports with reference to local media outlets.

In total, investments worth $3.3 billion were made into 5 industrial parks operating in Azerbaijan, he noted.

In 2018 alone, $452 million was invested by residents, he said.

About 9,000 permanent jobs have been created in industrial parks, he noted.

At the next stage, the expected capital expenditure will be about $400 million, and more than 1,600 jobs will be opened additionally, he said.

He noted that so far, the total value of the products manufactured in industrial parks exceeded 1.36 billion manats, from which goods worth 250 million manats were exported.

There are five industrial parks in Azerbaijan - Sumgait Chemical, Balakhani, Mingachevir, Garadagh and Pirallahi industrial parks.

In addition to industrial parks, industrial regions also operate in Azerbaijan, which have already manufactured products worth 33 million manats. The expected level of investments is 140 million manats with the creation of up to 2,000 jobs.

The created infrastructure and tax preferences in industrial parks and regions allow being confident in new investments and in the opening of new facilities.


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