Minister: Azerbaijan eyes to create two new industrial zones

Tue 22 Oct 2019 10:14 GMT | 14:14 Local Time

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The Azerbaijani Ministry of Economy will submit the proposals on the creation of two industrial zones in Azerbaijani districts by late 2019, Azerbaijani Minister of Economy Shahin Mustafayev said.

Mustafayev made the remarks in Baku at an expanded meeting of the board of the Ministry of Economy in connection with the fulfillment of Azerbaijani President Ilham Aliyev’s instructions made during a recent meeting chaired by the president, Trend reports on Oct. 22.

Some 44 residents have been registered in five Azerbaijani industrial parks, of which 24 are already operating. To date, $5.7 billion has been invested in industrial parks.

About 9,000 job places were created here. The residents of the parks attracted 673 million manat and created 1,500 new job places additionally.

The products manufactured in industrial parks are exported both to domestic market and foreign countries. The products worth 564 million manat were produced and the products worth 233 million manat were exported from January through September 2019.

Touching upon the theme of development of industrial parks, the minister stressed that industrial parks are new and progressive tools for the development of industry and said that four industrial zones have already been created in the country’s districts.

Some 38 residents have been registered in these industrial zones, 22 of them are already working. Some 53.8 million manat has been invested in these structures and more than 650 job places have been created. Over 90 million manat is expected to be attracted and 1,400 new job places are expected to be created.

The research and analysis are currently underway to create industrial zones in other parts of the country.

(1 USD = 1.7 AZN on Oct. 22)

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