Azerbaijan, Baku, April 29 / Trend, E. Ismailov /
Approval of the model provision 'On Industrial Parks' by the Head of State of April 24, 2013' gave legal authorization to the establishment of these parks in Azerbaijan as well as the management and implementation of business activities there, Azerbaijan's Economic Development Minister Shahin Mustafayev said on Monday during a meeting dedicated to the establishment of the Sumgait Chemical Industrial Park LLC.
As acting director of the park, Mehman Aghayev said during the meeting, the territory of 167,660 hectares allocated for the park has been prepared for construction. Alongside, he said, design estimates for road junctions, gas lines and the project to build the internal infrastructure have been completed. Demolition of old and useless buildings is nearing completion, and the clearing of harmful chemicals in conjunction with relevant government agencies is ongoing.
Aghayev said the action plan and presentation required to attract investors to activities in the park were prepared. During the talks, he said, investors have shown great interest in the park.
The Sumgait Chemical Industrial Park LLC satisfied the state registration at the Ministry of Taxes of the country with a capital of 500,000 manat.
The Sumgait Chemical Industrial Park was created for the purpose of forming favorable conditions in the country for the development of competitive industrial production based on innovative and high technologies, business support in this area, sustainable development of non-oil sector and increasing employment in the manufacturing sector.
Enterprises producing competitive goods (works, services) and processing plants for the petrochemical and other priority industries will be set up on the territory of the Sumgait Chemical Industrial Park.
The official exchange rate on April 29 is 0.7846 AZN / USD.