A resident of Balakhani Industrial Park Alphawood LLC has exported products worth 73,000 manats to the US so far, Report informs, citing the Park.
The LLC was registered in 2019 and started production in 2020: “Over the past period, the LLC exported products valued at 400,000 manats.”
The capital investment of Alphawood LLC, one of 16 residents in the industrial Park, amounted to 1 million manats. With an annual turnover of 6.5 million manats, the LLC produces doors, partitions, parquet, panels, fences, and other similar products from plastic waste materials. Given the growing demand, the products are planned to be exported to a number of European and Arab countries in the future.
The residents in the Balakhani Industrial Park obtain special concessions: “Entrepreneurs are exempted from profit, land, property taxes for ten years, the import of technological equipment for production – for seven years. ”
Since the establishment of Balakhani Industrial Park, the residents have invested 44.7 million manats and created more than 800 new jobs. To date, the residents have produced goods worth a total of 81.9 million manats. Products worth 10.8 million manats have been exported to many foreign countries, including the Netherlands, Switzerland, the United States, Kazakhstan, Georgia, Russia, and Belarus.
President Ilham Aliyev laid the foundation of Balakhani Industrial Park on December 9, 2012.