The Ministry of Economic Development (MED) of Azerbaijan received a proposal on construction of the port on the area of the land plot, allotted for the establishing of the industrial settlement, Minister of ED, Farhad Aliyev told the reporters.
According to him, light industry enterprises will be located mainly here and the applications in this regard have been already received. "In future, if the decision on establishing a special economic zone will be taken, the industrial settlement may be turned into such an area. Creation of the special export area is more expedient in Azerbaijan. The difference is that products are manufactured here and they are exempt from export taxes. However, for the competition reasons, taxes will be applied to them by sale of these products in the domestic market”, Aliyev noted.
Minister also reported, that the time for establishing of the industrial settlement will depend on entrepreneurs. This land plot of 300 hectares has been allotted by the Edict of the Cabinet of Ministers. It is located 49 km of Baku, close to Sumgayit. According to Aliyev, the area has access to sea, the railway line is also available.