BAKU, Azerbaijan, June 18. A grand total of 170 business entities have been given the green light for resident or non-resident status in the industrial zones of Azerbaijan, with investments that hit the jackpot at 8.1 billion manat ($4.78 billion), Trend reports via the Economic Zones Development Agency under the Ministry of Economy.
Entrepreneurs have invested more than 6.9 billion manat ($4.07 billion) in these industrial zones, creating over 10,600 permanent jobs.
During their visit to the Sumgayit Chemical Industrial Park,
representatives of several Turkish media outlets were given the
lowdown on the issues at hand.
The Turkish media representatives were also in the loop that
industrial zones have raked in products worth 16.2 billion manat
($9.5 billion), with 5.2 billion manat ($3.069 billion) making the
cut for exports.
They received a comprehensive overview of Azerbaijan’s economic
viability, conducive business ecosystem, designated industrial
zones, investment prospects, and current initiatives.
It was observed that Sumgayit Chemical Industrial Park, the
preeminent industrial hub in the South Caucasus, engages in sectors
such as chemical engineering, petrochemical processes, machinery
fabrication, construction material production, metallurgy, and
various ancillary industries.
Encompassing an extensive 613 hectares, the park engages in the
production and processing of market-competitive offerings.
An advantageous investment ecosystem has been established to
catalyze entrepreneurial ventures, with founders equipped with
pre-existing infrastructure underwritten by governmental
support.
Moreover, stakeholders within the industrial zone benefit from a
comprehensive tax abatement, encompassing property, land, and
income tax liabilities for a decade post-registration.
Additionally, they are insulated from VAT and customs tariffs
pertaining to the importation of machinery, technological
apparatus, and production installations.
"In the park, 39 business entities with total investments exceeding six billion manat ($3.54 billion) have been granted resident status, 26 of which are already operational. To date, park residents have sold products worth approximately 14 billion manat ($8.26 billion), of which roughly five billion manat ($2.95 billion) is export value. In the first quarter of 2025, production at Sumgayit Chemical Industrial Park increased by 14.2 percent, and exports grew by 17.2 percent compared to the same period last year. Currently, more than 6,000 people have permanent jobs there. Products manufactured in the park are exported to over 70 countries," the information said.
The media representatives visited production facilities of Kartash Kimya and Sika LLCs in the Sumgayit Chemical Industrial Park and had their questions about industrial zones answered.
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