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Road map for heavy industry to ensure Azerbaijan’s GDP growth

Business Materials 20 December 2016 20:13 (UTC +04:00)
Azerbaijan plans to create about 7,700 new jobs and ensure 1.56 billion manats of GDP growth by 2020 through implementation of measures in heavy industry and machinery
Road map for heavy industry to ensure Azerbaijan’s GDP growth

Baku, Azerbaijan, Dec. 20

By Maksim Tsurkov – Trend:

Azerbaijan plans to create about 7,700 new jobs and ensure 1.56 billion manats of GDP growth by 2020 through implementation of measures in heavy industry and machinery, reads the strategic road map for development of heavy industry and machinery, published Dec. 20 by the country’s official press.

“It is planned to achieve Azerbaijan’s GDP growth of one billion manats through the development of mining and metallurgical industry, another 250 million manats will be provided by improving productivity and efficiency of the industry,” reads the strategic road map.

“Another 145 million manats will be ensured through the support for import substitution, 105 million manats will be provided by promoting alternative financing mechanisms and transfer of experience,” the strategic road map said. “Another 45 million manats will be obtained through the creation of a central registry of assets and the existing potential, and 15 million manats will be ensured through Azerbaijan’s participation in the regional value chains in terms of demand.”

This map reflects the short-term (until 2020), medium-term (until 2025) and long-term measures (after 2025).

The official exchange rate on Dec. 20 is 1.7525 AZN/USD.

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