$800M invested in 5 industrial parks of Azerbaijan: minister (UPDATE)
Details added (first version posted on 10:54)
Baku, Azerbaijan, June 8
By Anvar Mammadov – Trend:
As much as $800 million have been invested in five operating industrial parks of Azerbaijan so far, the country’s Economy Minister Shahin Mustafayev said.
He was giving speech June 8 at the EU-Azerbaijan Business Forum in Baku.
He said that at present, about 5,000 new jobs have been created thanks to the industrial parks.
The minister noted that 154 investment promotion documents have been issued so far, which makes it possible to invest about 1.5 billion manats in Azerbaijan’s economy.
Currently, the work is underway in Azerbaijan to establish plants and enterprises in the Sumgait Chemical Industrial Park, industrial parks in Balakhany, Garadagh, Mingachevir and Pirallakhi settlements, Sumgait and Mingachevir high technology parks, as well as Neftchala and Masalli industrial districts.
Residents of Azerbaijan’s industrial parks are exempt from taxes on real estate, land, profits and VAT on equipment imports for seven years.