Belarus investors to build big pharma plant in Azerbaijan

Business Materials 27 December 2018 13:43 (UTC +04:00)

Baku, Azerbaijan, Dec. 27

By Taleh Mursagulov – Trend:

A big pharmaceutical enterprise will be built in Azerbaijan, with help from Belarusian investors, Trend reports referring to Belarus ambassador to Azerbaijan Gennady Akhramovich.

Akhramovich made the remarks at a press conference in Baku on Dec. 27.

“The enterprise will provide the Azerbaijani market with the most modern high-tech medicine,” he said.

“First of all, the matter rests in oncology medicine,” he said, adding that the enterprise will be one of the most modern in the post-Soviet area.

“Medicine produced at the enterprise may be exported to other countries,” Akhramovich said.

Azerbaijan plans to produce pharmaceutical products worth 1.3 million manats in 2019. The production will be expanded in subsequent years. Thus, the output will reach 38.8 million manats in 2020, 39.5 million manats in 2021 and 40.2 million manats in 2022.

The reason for the expected sharp increase in production is that pharmaceutical plants will start operating in the country's Pirallahi Industrial Park from 2019.

The industrial park, which was established in 2016, specializes in the production of pharmaceutical products. Here, as in other industrial parks, investors are exempted from paying various taxes and customs duties for seven years.


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