BAKU, Azerbaijan, October 22. Industrial zones are a favorable mechanism in terms of expansion of production, import substitution, and creation of new export opportunities, and from 2015 through October 1, 2024, 14.5 billion manat ($8.5 billion) worth of products were sold in industrial zones, of which 4.7 billion manat ($2.7 billion) worth of products were exported, Head of Press Service of the Economic Zones Development Agency under the Ministry of Economy of Azerbaijan Elchin Kazimov told Trend.
He stated that industrial zones generated sales of 2.4 billion manat ($1.4 billion) during the first nine months of this year, with 801.1 million manat ($471.2 million) going to export.
“Products produced in industrial zones were exported to more than 70 countries. The resident status has been granted to 157 business entities with a total investment volume of 7.8 billion manat ($4.5 billion) by industrial zones from 2013 to the present.
Entrepreneurs have invested more than 6.8 billion manat ($4 billion) in the industrial zones and created more than 10,500 permanent jobs. In the next stage, it is planned to invest more than 1 billion manat ($588 million) additionally in the existing projects in industrial zones and create more than 9,400 new jobs," Kazimov said.
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