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Nigar Hasanova

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Currently, 138 corporate companies with investment projects worth more than seven billion AZN ($4 billion) in Azerbaijan's economic zones have been awarded resident status, Chairman of the Board of the Economic Zone Development Agency under the country's Minister of Economy, Elshad Nuriyev said at the Azerbaijan-Türkiye Investment Forum, Azernews reports.

"Seven industrial parks are now operating in our country (in Sumgayit, Mingachevir, Pirallahi, Garadagh, Aghdam, Balakhani, and the 'Economic Zone of the Araz Valley'), along with five industrial districts (Hajigabul, Neftchala, Masalli, Sabirabad, and Sharur)," he explained.

"Six billion manat ($3.5 billion) was spent in six industrial zones, which resulted in the creation of almost 11,000 permanent jobs. Furthermore, an extra 864 million manat ($508 million) will be invested in current industrial zone projects, resulting in the creation of almost 6,700 permanent jobs," noted Nuriyev.

According to him, as of today, the industrial zones have produced goods worth 11.1 billion AZN ($6.5 billion), with exports amounting to 3.6 billion AZN ($2 billion).

"During the first nine months of this year, enterprises operating in industrial zones sold products worth 2.3 billion AZN ($1.3 billion), of which 31 percent of the production (more than 722 million AZN or $424.7 million) was exported," the official said.

"Industrial zones contributed 17.9 percent of the country's non-oil industry and non-oil exports during this time. All of this illustrates that industrial zones play an important part in the development of the non-oil sector, and their products are exported to over 60 nations worldwide," Nuriyev added.

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