Azerbaijan moves to invest $250m in industrial zones

Azerbaijan plans to invest $250 million in industrial zones, the Acting Chairman of the Agency for the Development of Economic Zones, Mr Elshad Nuriyev, said.

He made the remarks at a briefing on the work done in the Sumgayit Chemical Industrial Park and industrial zones in Karabakh on December 10, 2021.

He said Azerbaijan has five industrial zones and that their main goal is to ensure the sustainable development of the non-oil sector, create and expand new production areas in the country using innovative technologies, and expand the export map of these products.

“Currently, 55 economic entities are registered as residents in industrial zones. A total of $3.7 billion has been invested in industrial zones, and in the future, it is planned to invest half a billion manats, or $250 million,” he said.

Moreover, stating that industrial zones are expected to create an additional 1,500-2,000 jobs, he noted that 9,500 people are currently working there.

“Today the industrial zones of Azerbaijan produce products that have not been produced before. It is not only sold in the domestic market but also exported to foreign countries.

“We have a wide geography of export. Our products are delivered to neighbouring Turkey and Russia, as well as to Central Asian countries, Germany, Netherlands, Poland, Ukraine, Brazil, Canada, USA and China,” he said.