BAKU, Azerbaijan, February 16. This year, several enterprises, including a 2000-ton cement terminal, metal product manufacturing, and diverse adhesive tape production, are scheduled to launch in the Araz Valley Economic Zone industrial park, said Chairman of the Economic Zones Development Agency (IZIA) under the Ministry of Economy Seymur Adigozalov during a press conference dedicated to the results of activity for 2023, Trend reports.
"The Araz Valley Economic Zone Industrial Park now grants resident status to ten businesses and non-resident status to one. The plan calls for an investment of more than 67 million manats ($39.4 million) and the creation of more than 700 permanent jobs. Residents have currently invested approximately 10 million manat ($5.9 million) in the industrial park. Both Aghdam Industrial Park and the Araz Valley Economic Zone are undergoing infrastructure developments, which include the construction of administrative buildings, substations, and water reservoirs," he noted.
The Economic Zones Development Agency was established as a state legal entity based on Sumgayit Chemical Industrial Park LLC by decree No. 1257 of the President of the Republic of Azerbaijan Ilham Aliyev "On Measures to Improve Management of Industrial Parks, Industrial Districts, and Agro-Parks" dated January 22, 2021.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel