Azerbaijan names number of residents in its industrial zones

BAKU, Azerbaijan, May 12. A total of 101 business entities in Azerbaijan have received the status of a resident of industrial zones, and 58 of them are already operating, the Azerbaijani Agency for the Development of Economic Zones told Trend.

According to the agency, the investments made by these business entities totaled 6.4 billion manat ($3.7 million), which ensured the creation of more than 10,000 jobs.

"At the next stage, it’s planned to invest more than 400 million manat ($235.3 million) in industrial zones and create over 2,600 jobs. Besides, products worth over 6.5 billion manat ($3.7 million) have been manufactured in the territory of existing industrial zones, and 32 percent of the total volume of manufactured products worth 2.1 billion manat ($1.2 billion) was exported," the agency said.

The industrial zones play an important role in the development of the non-oil sector of Azerbaijan, innovative and high-tech competitive industries and employment, added the agency.