BAKU, Azerbaijan, Mar. 11
Trend:
Residents of Azerbaijan’s Balakhani Industrial Park have invested 44.8 million manat ($26.3 million) and created more than 800 new jobs since the beginning of its operation, Tamiz Shahar OJSC told Trend.
According to the company, through this period, products worth 99.5 million manat ($58.5 million) have been manufactured at the industrial park.
At the initial stage, only eight residents worked in the park at the sites for processing motor, hydraulic and food oils, waste plastic bottles, and paper products.
As a result of growing interest in the industrial park, 24 residents were registered in subsequent periods.
Currently, 17 residents of the industrial park are engaged in waste processing in 27 areas of activity and manufacture various products.
The enterprises operating there are exempt from income tax, land tax and property tax for 10 years, VAT and customs duties on machinery, technological equipment, imported for building a production site and manufacturing in an industrial park - for seven years. This contributes to the development of the "green economy" and the improvement of the ecological situation in Baku and nearby settlements.
The Balakhani Industrial Park was created by the Azerbaijani president’s order dated December 28, 2011. The industrial park with a total area of 10.15 hectares is managed by Tamiz Shahar OJSC.