Azerbaijan's Industrial Parks thrive with major investments and job creation efforts

Currently, Azerbaijan is vigorously implementing the Great Return Program, a comprehensive initiative aimed at restoring all territories liberated from occupation. Significant efforts are underway to rebuild Garabagh and Eastern Zangazur, where new villages, towns, modern trade and logistics centres, and economic zones are being established.

In parallel, against the backdrop of extensive construction activities in formerly occupied regions, Azerbaijan is swiftly advancing large-scale restoration and reconstruction projects. These efforts are complemented by rapid economic reintegration measures in Garabagh and Eastern Zangazur, designed to ensure sustainable settlement and economic activity for forcibly displaced populations.

Recently, from June 27-28, the Ministry of Economy organised the "New Opportunities for Entrepreneurs: Let's Build Garabagh Together" event in Shusha, serving as a pivotal continuation of these endeavours. The event aimed to present investment opportunities and business prospects in the Garabagh and Eastern Zangazur economic regions, fostering discussions on public-private sector partnerships.

Against the backdrop of Azerbaijan's ongoing efforts to rebuild and develop its recently liberated territories, the "New Opportunities for Entrepreneurs: Let's Build Garabagh Together" event in Shusha, organized by the Ministry of Economy, serves as a pivotal continuation of these initiatives. The event's primary objective is to highlight the burgeoning investment opportunities and business prospects within the economic regions of Garabagh and Eastern Zangazur. It also aims to facilitate discussions on effective public-private sector collaboration models.

Azerbaijan's Great Return Program, currently underway, focuses on the comprehensive restoration of territories liberated from occupation. This includes rebuilding infrastructure, establishing new settlements, and developing modern trade and logistics centres along with economic zones in Garabagh and Eastern Zangazur.

During the event, panel discussions were held to address various aspects of entrepreneurial activities in these regions. Topics covered included incentives for businesses, state support measures, and the pivotal role of entrepreneurs in the economic revitalization and integration of these newly regained territories.

As part of the program, a delegation of business representatives visited Aghdam Industrial Park, the country's second-largest after Sumgayit Chemical Industrial Park. This park has attracted significant investment, with 25 business entities investing over 216 million manats, leading to the creation of more than 2,000 jobs. Notably, these investments are supported by favorable conditions such as residency status for investors and exemptions from certain taxes and duties.

Seymur Adigozalov, Chairman of the Economic Zones Development Agency under the Ministry of Economy, provided insights into the "Araz Valley Economic Zone" Industrial Park during his address at the event. Currently hosting 10 resident businesses and 2 non-resident entities, this park is projected to receive investments exceeding 83.4 million manats, resulting in the creation of 700 jobs. The park has already seen investments of over 14 million manats, leading to the establishment of more than 20 jobs.

The development plans for these industrial parks include the creation of logistics centres, warehouses, wholesale and retail facilities, as well as service areas like vehicle repair and cold storage. These initiatives are aimed at enhancing local production capacities and promoting economic diversification in the region.

Looking ahead, several investment projects are being considered for implementation in Azerbaijan's liberated territories, reflecting the government's commitment to fostering sustainable economic growth and development in these areas.

In addition to industrial activities, plans are underway for the production of personal sanitary products using local raw materials within Aghdam Industrial Park. This initiative aims to meet domestic demand while reducing reliance on imports, thereby supporting local industries and employment opportunities.

Currently, Azerbaijan hosts seven industrial parks across various districts, including the prominent "Araz Valley Economic Zone" in Sumgayit Kimya, along with parks in Garadag, Pirallahi, Mingachevir, Balakhani, Aghdam, and Jabrayil. Additionally, the country features five industrial districts situated in Hajigabul, Masalli, Neftchala, Sabirabad, and Sharur.

Of particular note, the Agdam Industrial Park spans 190 hectares and was established by presidential decree on May 28, 2021. Similarly, the "Araz Valley Economic Zone," covering 200 hectares, was established by decree on October 4, 2021. Both parks have undergone extensive demining operations, ensuring the safety and accessibility necessary for development. Mobile settlements have been strategically placed to accommodate residents comfortably within these industrial zones.

Overall, these initiatives underscore Azerbaijan's proactive approach towards rebuilding and revitalising its liberated territories, laying the groundwork for long-term economic prosperity and regional stability.