BAKU, Azerbaijan, February 16. Over five enterprises (for the manufacturing of wallpaper, numerous types of shoes, roofing coverings, pipe and box profiles, ventilation, fire-fighting equipment, and various metal goods, etc.) will start operating at Azerbaijan's Aghdam Industrial Park this year, Chairman of the Board of the Economic Zones Development Agency (IZIA) under the Ministry of Economy of Azerbaijan Seymur Adigozalov said, Trend reports.
He made the remark during a press conference on the results of activities in 2023.
According to him, 20 business units in the Aghdam Industrial Park have been designated as residents, while six entrepreneurs are designated as non-residents.
“Residents are projected to invest more than 190 million manats ($111.7 million) in the industrial park, creating over 1,700 employment. These industrial businesses' products will initially focus on meeting domestic demand before being exported under the Made in Azerbaijan brand. To date, inhabitants of the industrial park have spent about 15.3 million manat ($9 million), and over 120 permanent employment have been generated,” he noted.
The chairman also mentioned that about 10 enterprises are planned to start operating in industrial zones managed by the IZIA in 2024.
To date, 142 business entities have obtained resident status in Azerbaijan's industrial zones managed by the IZIA (26 business entities received resident status in 2023 alone).
The Economic Zones Development Agency was established as a public entity on the basis of the Sumgayit Chemical Industrial Park LLC by the Decree No. 1257 dated January 22, 2021 of the President of the Republic of Azerbaijan Ilham Aliyev "On measures related to the improvement of the management of industrial parks, industrial districts and agricultural parks".
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