TODAY.AZ / Business

Growth in Azerbaijan's cardboard production foreshadows progress in other sectors

31 January 2024 [16:02] - TODAY.AZ
By Azernews

Qabil Ashirov

Thanks to the rapid development of the country's economy, paper and cardboard packaging production is constantly increasing in Azerbaijan. Despite the fact that paper and cardboard production has never been among the largest segments of industrial production in the country, as is known, the paper and cardboard packaging sector is closely related to other sectors, and the fluctuation in this sector gives us a clue into the general economic condition.

Currently, Azerbaijan meets over 60 percent of its potential production, and it increases year by year.

According to official state statistics, paper production in the country in 2020 grew by almost 12.3%, and the growth is currently ongoing. It is worth noting that the country’s food packaging sector is diverse. With Azerbaijan’s government aiming to improve export levels and position Azerbaijan as a regional food production powerhouse, new opportunities for local and foreign companies are emerging. This boosting economy in Azerbaijan will continue to drive demand for packaging. In addition to the four large paper and cardboard factories in the country, there are dozens of small enterprises located in Baku and the surrounding regions. With the growth of the manufacturing and service sectors, the number of such enterprises is undoubtedly increasing day by day.

Recently, the Azerbaijani Economy Minister noted in his X social account that Baku Cardboard and Box Factory LLC has obtained residency in the Sumgait Chemical Industrial Park. The company is set to establish a cardboard paper manufacturing facility for packaging construction materials and agro-industrial products. This enterprise, with an investment volume of AZN20 m ($11,8m), is expected to create permanent jobs for 100 individuals.

URL: http://www.today.az/news/business/244209.html

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