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Four more residents to settle in Sumgait Chemical Industrial Park until year-end

Business Materials 13 November 2017 15:30 (UTC +04:00)
Four more residents will start operating in the Sumgait Chemical Industrial Park (SCIP) until the end of 2017.
Four more residents to settle in Sumgait Chemical Industrial Park until year-end

Baku, Azerbaijan, Nov. 13

By Azad Hasanli – Trend:

Four more residents will start operating in the Sumgait Chemical Industrial Park (SCIP) until the end of 2017, Azerbaijani Deputy Economy Minister Niyazi Safarov told reporters in Baku Nov. 13.

Safarov said that currently, 5,600 people work in the industrial park and once the new residents begin to operate, the number of new jobs will also increase.

“In general, 12 residents invest about $1.4 billion in Sumgait Chemical Industrial Park,” noted the deputy minister.

He added that 35 residents have been registered in all five industrial parks and three industrial zones in Azerbaijan.

Safarov reminded that very serious preferences are provided to residents of industrial parks and zones. Meanwhile, the deputy minister added, other businessmen who do not work in industrial parks and zones can also take advantage of these benefits (mechanisms for promotion of investments and exports).

The official also spoke about the construction of other industrial zones. He said that currently, the construction of two such zones is underway at an accelerated pace in the Masalli and Hajigabul districts.

“We plan to complete the infrastructure work by the end of the year in the Masalli industrial zone. We hold regular meetings with the entrepreneurs of this district and the surrounding districts and to date, we have already received 30 different projects that can be implemented in this zone,” said Safarov.

“As for the Hajigabul industrial zone, the work there, as well as in other industrial parks and zones, is carried out promptly and efficiently. Currently, organizational work is conducted in Hajigabul industrial zone, and the holding of first tender has already started,” he added.

The deputy minister noted that the creation of industrial parks, the support of their residents, and the general industrialization of the regions contribute not only to the development of the country, but also to improving the competitiveness of the economy and employment.

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