Azerbaijan, Baku, Nov. 3 / Trend E. Aliyev /
The pace of development of Azerbaijan's economy remained high even during the global economic crisis. The industry plays a special role in the dynamic development of the economy.
"The production in the Azerbaijani processing industry increased by 2.1 times for the past 10 years, including the production of building materials - by 2.5 times, metallurgy - by 3.8 times, machinery and equipment - by 2 7 times, electrical equipment - by 5.3 times, furniture - by 3.5 times," the Azerbaijani Ministry of Economy and Industry told Trend on Friday.
According to the ministry, the production of chemical products has become one of the leading branches of the industry in the country due to the necessary raw materials and high demand.
The accelerated development of the construction sector has created favorable conditions for the production of building materials. Their production is expected to be increased and new enterprises are planned to be established in this field in Azerbaijan in the coming years. The commissioning of new cement plants will not only fully ensure the domestic demand for cement, but also create an opportunity for cement exports abroad.
According to the ministry, a favorable investment climate in the country has led to annual growth of investments in this area, as well as to the growth of metal-working enterprises and the volume of their production.
"The development of industrial parks in Azerbaijan has become one of the priority areas, aimed at industrial activity in the country," the ministry said. "In particular, the foundation of the Balakhan industrial park and the Sumgait chemical industrial park was laid. The operations are underway to establish a high-tech park."
According to the ministry, the issue of establishing enterprises that will produce competitive products is on the spotlight within the industrialization policy.
"The establishment of large industrial enterprises operating on local resources and raw materials was supported," the ministry said. "Moreover, the existing enterprises were also upgraded. New manufacturing enterprises were built and put into operation."
Around 192 large industrial enterprises of great importance have been commissioned in Azerbaijan for the past 10 years. In particular, the Sumgait Technology Park, the Nakhchivan Automobile Plant, "DET AL" aluminum production plant in Ganja, a solar panel plant in Sumgait, a shipyard, cement plants and other enterprises were opened. Moreover, other large enterprises are being constructed in the country.
"According to the Azerbaijani President's instructions, the preparation is underway to establish the industrial parks in Ganja and Mingachevir," the ministry said.
According to President Aliyev's decree as of October 22, 2013, the Ministry of Economy and Industry was established to improve the public administration structure on the basis of the Azerbaijani Ministry of Economic Development.