New businesses to get off ground in Azerbaijan's Aghdam industrial park

Economy Materials 30 May 2024 14:48 (UTC +04:00)
Asif Mehman
Asif Mehman
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BAKU, Azerbaijan, May 30. This year, Aghdam Industrial Park is expected to welcome more than five new businesses, Chairman of the Board of the Agency for Development of Economic Zones under the Ministry of Economy of Azerbaijan Seymur Adigozalov told reporters in Aghdam, Trend reports.

According to him, Aghdam Industrial Park was established under the jurisdiction of the Agency for Development of Economic Zones by the decree of the head of state dated May 28, 2021. The park occupies an area of 190 ha.

“Aghdam Industrial Park and other industrial zones attract enterprises. Aghdam Industrial Park has the second-most population under the Economic Zones Development Agency, behind Sumgayit Chemical Industrial Park.

To date, in Aghdam Industrial Park, the resident status has been assigned to 23 business entities, and the non-resident status to 6 entrepreneurs with a total investment volume of more than 200.6 million manat ($117.9 million). The business entities envisage the creation of more than 1900 workplaces here. Residents have invested more than 35 million manat ($20.5 million) in the industrial park and created about 300 permanent jobs.

Many industrial park residents have finished building and installation, and manufacturing will begin soon. Yet a few of them continue building and installing and some will be finished this year.

Furthermore, it is expected that this year in Aghdam Industrial Park, the enterprises for the production of ventilation, fire-fighting equipment and various metal products, construction materials, roofing materials, pipes and box profiles, electrical distribution equipment, and electrical outlets, various types of railway equipment, wallpaper, shoes, etc. will start working.

Also, at present, in Aghdam Industrial Park, at the expense of state funds, works on the creation of infrastructure for residents, the construction of an electric substation, and administrative buildings continue,” Adigozalov said.

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