Azerbaijan to set up logistics center in Sumgait Chemical Industrial Park
Baku, Azerbaijan, July 31
By Ilkin Shafiyev – Trend:
A logistics center with an area of 10 hectares will be established in the territory of Azerbaijan’s Sumgait Chemical Industrial Park, Nazim Talibov, director general of the industrial park, told reporters in Baku July 31.
"The logistics center will be able to support the Green Corridor project, to be located in a 10-hectare territory of the park,” he said. “Design estimates are ready. The construction of the center will be launched in 2019. The project cost has not been set yet."
Talibov stressed that the logistics center will support the residents of the park in export-import operations.
"Such a logistics center will help the residents increase the rationality and efficiency of export-import operations," he said. “The logistics center will also have access to the railway, currently being built to the park."
Presently, Azerbaijan has five industrial parks: the Sumgait Chemical Industrial Park, the Balakhani Industrial Park, the Garadagh Industrial Park, the Mingachevir Industrial Park and the Pirallahi Industrial Park, as well as four industrial zones: the Neftchala, Masalli, Hajigabul and Sabirabad industrial zones.
Today, all residents of industrial parks, high-tech parks and agriculture parks are exempt from property tax, land tax, profit tax and VAT on imported equipment for seven years. Repatriation of profits after payment of taxes is guaranteed to all investors.
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