“The Cabinet of Ministers adopted decision on construction of industry town in Sumgayit,” Farhad Aliyev, the Minister of Economic Development, said. He was commenting on program for social-economic development of regions, Trend reports.
The program, adopted in accordance with the President’s decree on development of small and medium size business, envisaged establishment of industry town. The government has allocated 300 hectares to establish industry town in Sumgayit and plans to lay foundation of the town soon,” he noted.
Aliyev stressed that they plan to place from 200 to 300 enterprises. “The main goal is to set up output, sale and export of more necessary products,” he added.
The Minister stressed that industry town may become base for special economic zones. This experience is spread in some countries such as Chine, South Korea and Singapore.