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Four more residents to settle in Sumgayit Chemical Industrial Park until year-end

13 November 2017 18:00 (UTC+04:00)
Four more residents to settle in Sumgayit Chemical Industrial Park until year-end

By Kamila Aliyeva

Sumgayit Chemical Industrial Park continues to attract new players and very soon four more residents will start operating in the Park.

Azerbaijani Deputy Economy Minister Niyazi Safarov told reporters that until the new residents will start to operate until the end of 2017 .

He said that currently, 5,600 people work in the industrial park and once the new residents begin to operate, the number of new jobs will also increase.

“In general, 12 residents invest about $1.4 billion in Sumgayit Chemical Industrial Park,” the deputy minister noted.

The Park established in 2011 covers an area of 167.66 hectares and resides nearby Sumgayit city that is 32.5 km away from Baku. The Park is able to accommodate 35-40 companies, which provides the opening of thousands new jobs.

He added that 35 residents have been registered in all five industrial parks and three industrial zones in Azerbaijan.

Safarov reminded that very serious preferences are provided to residents of industrial parks and zones.

Meanwhile, the deputy minister added, other businessmen who do not work in industrial parks and zones can also take advantage of these benefits (mechanisms for promotion of investments and exports).

The official also spoke about the construction of other industrial zones. He said that currently, the construction of two such zones is underway at an accelerated pace in the Masalli and Hajigabul districts.

“We plan to complete the infrastructure work by the end of the year in the Masalli industrial zone. We hold regular meetings with the entrepreneurs of this region and the surrounding regions and to date, we have already received 30 different projects that can be implemented in this zone,” Safarov said.

“As for the Hajigabul industrial zone, the work there, as well as in other industrial parks and zones, is carried out promptly and efficiently. Currently, organizational work is conducted in Hajigabul industrial zone, and the holding of first tender has already started,” he added.

The deputy minister noted that the creation of industrial parks, the support of their residents, and the general industrialization of the regions contribute not only to the development of the country, but also to improving the competitiveness of the economy and employment.

Currently, Neftchala Industrial Zone operates in the country and next such a zone is planned to be created in Hajigabul district. A total of 4 million manats ($2.35 million) is allocated from the Presidential Contingency Fund for the establishment of the Hajigabul Industrial Zone.

In addition to industrial zones, five industrial parks have been established in the republic: the Sumgait Chemical Industrial Park, Balakhani, Garadagh, Mingachevir and Pirallahi industrial parks.

Main purpose of the establishment of such parks in the country are the creation of favorable conditions in the country for further development of industrial production, provision of support to entrepreneurs, and increasing employment of population in the sphere.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

Follow us on Twitter @AzerNewsAz

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