Azernews.Az

President of the Republic of Azerbaijan Ilham Aliyev attended the opening of a metal electric pole production facility owned by Construction LLC in Aghdam Industrial Park on December 23, Azernews reports.

Nurlan Abbasov, founder of Construction LLC, briefed the head of state on the facility’s operations.

Located on a 1-hectare site within the Industrial Park, the facility operates using Chinese technology. Its annual production capacity is 7,200 tons of metal electric poles, which will serve both domestic demand and export markets. The investment volume of the facility is 2.96 million manats, with a guaranteed loan of 1.2 million manats provided by the Azerbaijan Business Development Fund under the Ministry of Economy. The facility currently employs 32 people and benefits from all tax and customs concessions granted to residents of the Industrial Park. During the import of equipment, technological devices, and installations, VAT and customs duty concessions worth approximately 443,000 manats were applied.

Established by a 2021 decree, Aghdam Industrial Park covers 190 hectares and aims to revive the liberated territories, develop Garabagh’s industrial potential, support entrepreneurship, and increase employment in the production sector. Key activities in the Industrial Park include the production of construction materials, packaging of agricultural products, processing of fruit and vegetable preserves, meat and dairy production, feed and fertilizer production, provision of services, and the organization of cold storage facilities.

The government has created a favorable investment environment to support entrepreneurial activity. Residency status has been granted to 32 business entities with a total investment exceeding 312 million manats, while 5 entrepreneurs have been granted non-residency status. Investors have already contributed 142 million manats to the Industrial Park, creating nearly 970 permanent jobs, the majority of which are held by residents of Aghdam and surrounding districts. Products worth 945 million manats have been produced by Industrial Park residents, including 39.5 million manats worth of exports.