BAKU, Azerbaijan, July 21. Residents registered in industrial zones administered by the Economic Zones Development Agency under the Ministry of Economy of Azerbaijan plan to invest a total of 616 million manat ($362.3 million) and create more than 4,800 jobs, Trend reports via a tweet from Economy Minister Mikayil Jabbarov.
According to Jabbarov, so far, 131 business entities with a combined investment volume of more than 7.18 billion manat ($4.2 billion) have been granted residency in industrial zones, of which 68 have already commenced production activities.
Over 6.56 billion manat ($3.86 billion) has already been invested in industrial zones, creating more than 10,600 permanent jobs, he added.
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) acquire special importance.