Sumgayit's GDP grew by 35 percent last year
By Mirsaid Ibrahimzade
Last year, Sumgayit's GDP grew by 35 percent.
This was said on Wednesday at the reporting meeting on the results of the socio-economic development and the upcoming tasks of Sumgayit in 2018, Trend reports.
It was noted that the gross domestic product in 2018 compared to 2017 increased by 35 percent, or 520 million manats, and amounted to more than 2 billion manats. Industrial enterprises produced products at 1.3 billion manats, which is 20 percent more compared to the previous year. During the last year, 7,000 new work places were created, the average monthly salary of hired workers exceeded 500 manats.
Last July, the head of state took part in the opening of a polypropylene plant, SOCAR Polymer LLC, in Sumgayit Chemical Industrial Park. 500 people were provided with work at the plant, where 180,000 tons of products will be produced annually.
During his regular visit to Sumgayit in November, President Ilham Aliyev attended the opening of a factory of building chemicals, the opening of a factory of non-ferrous metals and ferroalloys and the opening of a factory for the production of tobacco products Tabaterra, which will produce 11 billion cigarettes per year with three types of filters. At these enterprises 500 new workplaces were opened.
It was also noted that this year, on January 16, the “SOCAR carbamide” plant, built in the territory of the Sumgayit Chemical Industrial Park, was opened with the participation of the head of state. At the plant 500 people will be provided with permanent work. It is the largest project in Sumgayit since the independence of Azerbaijan.
It was said that during the period of implementation of the State Program for the Socio-Economic Development of Regions, that is, over the past five years, GDP grew 2.6 times, industrial production — 2.9 times, investment — 3.5 times 32,819 new jobs. 2955 new spheres of production began to operate.
Investments in 2018 amounted to 456 million manats, which is 2.5 times more compared to the previous year, or 276 million manats.
Last year, trade turnover amounted to 912,000,000 manats, which is nine percent more compared to the previous year.
Currently, the city is developing chemical (JSC "Organic Synthesis", JSC "Khimprom"), metallurgical (pipe rolling, aluminum plants), engineering, light industry, food industry, building materials.
In addition, Sumgait Chemical Industrial Park which was established by Decree dated December 21, 2011 and was registered on May 11, 2012, actively cooperates with an Iranian pharmaceutical company called Darou Pakhsh. Negotiations are also underway with a number of foreign companies, in particular, companies of the Russian Federation, Ukraine, Iran and Germany. The managers of these companies offer residents of the Park to open branches in the industrial zone of Sumgayit in the future.
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