Azerbaijan invested hundreds of millions in industrial parks since early 2019 (UPDATE)

Business Materials 1 May 2019 15:01 (UTC +04:00)

Details added (first version posted on 12:53)

Baku, Azerbaijan, May 1

By Sara Israfilbayova - Trend:

In the first quarter this year, 540 million manats were invested in industrial parks and districts in Azerbaijan, Azerbaijan’s Deputy Economy Minister Niyazi Safarov said, Trend reports.

He made the remarks at a presentation in Baku dedicated to the Houses of Small and Medium Enterprises (SMEs) on May 1.

He noted that five industrial parks including Sumgait Chemical Industrial Park, Garadgh, Balakhani, Mingachevir and Pirallahi industrial parks, and four industrial districts including Neftchala, Hajigabul, Masalli and Sabirabad industrial districts have been created in Azerbaijan

“In general, about 60 residents operate in industrial districts and more than 3 billion manats were invested,” Safarov said. He noted that more than 50 million manats were invested in the Neftchala and Masalli industrial parks, and it is planned to invest up to 81 million manats in the Hajigabul and Sabirabad industrial parks.

Safarov also said that so far, 35,800 entrepreneurs received preferential loans worth 2.3 billion manats.

“Investment promotion documents were issued regarding 362 projects,” he noted. “Within these projects, which cover eight economic regions of Azerbaijan, it is planned to invest up to $3 billion and create up to 23,700 new jobs.”

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