BAKU, Azerbaijan, July 31. It is planned to invest about 30 million manat ($17.6 million) in the Pirallahi Industrial Park, which is under the management of the Agency for the Development of Economic Zones under the Ministry of Economy of Azerbaijan, Minister of Economy of Azerbaijan Mikayil Jabbarov tweeted, Trend reports.
The minister noted that it is also planned to create more than 250 jobs under existing projects.
“The activity of the Pirallahi Industrial Park contributes significantly to the development of the pharmaceutical industry, ensuring the availability of medicines to the population, and fostering employment opportunities. Currently, six business entities have been granted residency in the Industrial Park, with a combined investment volume of over 66 million manat ($38.8 million). Among these, two entities have already commenced production activities,” the minister said.
“An impressive investment of over 36 million manat ($21.1 million) has been made, resulting in the creation of more than 130 permanent jobs and the production of goods worth 37 million manat ($21.7 million). The next phase of existing projects is set to involve an additional investment of about 30 million manat ($17.6 million), with the aim of generating over 250 new job opportunities,” he added.
The Pirallahi Industrial Park was established by the decree of the President of the Republic of Azerbaijan on September 14, 2016.