BAKU, Azerbaijan, May 10. The creation of an
infrastructure network is underway in Aghdam Industrial Park,
Trend reports via the Ministry of Economy of
Azerbaijan.
According to the ministry, Economy Minister Mikayil Jabbarov,
Special Representative of the President of the Republic of
Azerbaijan in the Aghdam, Fuzuli, and Khojavand districts Emin
Huseynov, and representatives of specialized structures of the
Ministry of Economy familiarized themselves with the work done in
Aghdam Industrial Park.
The Aghdam Industrial Park, established by the President of
Azerbaijan’s decree on May 28, 2021, holds significance in
unlocking the business potential of formerly occupied territories,
fostering non-oil sector growth, boosting employment, and producing
competitive goods.
Similar to other industrial parks, Aghdam Industrial Park offers
favorable conditions for entrepreneurial development. Positioned at
the crossroads with other Karabakh regions, it stands as the
second-largest industrial zone, following Sumgayit Chemical
Industrial Park, in terms of resident numbers.
“The park has awarded resident status to 21 businesses, totaling
over 195 million manat, or $114.7 million in investments, and
non-resident status to 6 entrepreneurs. The creation of over 1800
jobs is projected within the industrial park. Residents have
invested over 35 million manat, or $20.58 million, to date,
generating around 300 permanent positions. Presently,
infrastructure network development, electricity, gas, water supply,
and administrative building construction are underway in Aghdam
Industrial Park, while residents are engaged in construction and
installation works for various enterprises,” the ministry said.
BAFCO Invest LLC became a resident of Aghdam Industrial Park in
March 2023. Spanning 2.5 hectares and employing advanced German
technologies, the enterprise specializes in manufacturing
protective footwear with metal inserts and soles for construction
and other sectors. With an investment exceeding 10 million manat,
or $5.88 million, the company will create 120 new jobs. Benefiting
from import VAT exemption and customs privileges for industrial
park residents, BAFCO Invest LLC has saved over one million manat,
or $588,235.
Mister Decor LLC obtained resident status at Aghdam Industrial
Park in October 2022. Pioneering wallpaper production in the South
Caucasus with an investment of seven million manats, the enterprise
anticipates creating 76 new positions. Boasting an annual capacity
of 2.1 million rolls, the company plans to export products
manufactured using German and Chinese technologies alongside
domestic sales. Thanks to import VAT exemption and customs
privileges for industrial park residents, Mister Decor LLC has
saved over 400,000 manat, or $235,294.
Metkons LLC was granted resident status at Aghdam Industrial
Park in April 2022. Occupying a 1-hectare area, the enterprise is
set to manufacture ventilation and fire-fighting equipment, along
with various metal products. Utilizing Turkish, Italian, Russian,
and Chinese technologies, the enterprise has an investment value of
1.9 million manat, or $1.1 million, aiming to employ 45 individuals
permanently. The produced goods will primarily cater to domestic
demands. With import VAT exemption and customs privileges for
industrial park residents, Metkons LLC has saved over 100,000
manat, or $58,823.
Construction and installation activities are also in progress
for several enterprises within Aghdam Industrial Park, including
Rail Trans Service LLC for automatic and telemechanical systems,
Eel Electric LLC for electrical distribution equipment and outlets,
Prof-Dam LLC for roofing production, Tabaterra LLC for tobacco
product manufacturing, and Agah Group LLC for metal profile and
storage rack production, among others. Some of these enterprises
anticipate commencing operations later this year.
To note, Azerbaijan currently boasts seven industrial parks and
five industrial districts. Residents of these zones benefit from
stimulating measures. Moreover, additional incentives are extended
to those in Aghdam Industrial Park and Araz Valley Economic Zone
Industrial Park, situated in recently vacated territories. These
incentives comprise special preferential bank loans, subsidized
social insurance payments, a 20 percent discount on public
utilities, and exemption from VAT and customs duties on imported
raw materials and supplies.
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