BAKU, Azerbaijan, May 15. Residents registered in Azerbaijan's industrial zones managed by the Economic Zones Development Agency under the Ministry of Economy, plan to invest a total of 600 million manat ($352.9 million) and create more than 4,800 jobs, Trend reports via Azerbaijani Economy Minister Mikayil Jabbarov’s tweet.
Overall, 128 enterprises with the total investment volume of more than 7.1 billion manat ($4.18 billion) received the status of a resident in industrial zones, 66 of them have already commenced production activities.
Industrial zones contribute to the expansion of entrepreneurial activity in Azerbaijan. One of the most important directions of the country's economic policy is the development of industry and the non-oil sector, in particular. Special attention is paid to the effective use of available natural and economic resources, the growth of industrial production, and the establishment of new enterprises.
Systematic and result-oriented measures are being implemented, while modern technologies are being used to create products with added value. The implementation of advanced tools in accordance with the requirements of modern economic development and the creation of industrial zones (techno-parks) acquires special importance.
In order to improve the management of industrial zones, an Economic Zones Development Agency has been established under the Ministry of Economy of Azerbaijan.
