To date, 89 business entities in the industrial zones of Azerbaijan have obtained residency status, and 55 out of them have already started operating, Report informs with reference to the Ministry of Economy.
According to the ministry, the entrepreneurs have invested over 6.2 billion manats in the industrial zones, nearly 9,500 jobs have been created so far. Within the existing projects, 400 million manats will be invested in the industrial zones, and about 2,000 jobs will be created.
The zones manufactured products worth 5 billion manats. The products valued at 1.4 billion manats were exported.
According to statistics, the industrial zones’ production amounted to 1.5 billion manats in nine months of 2021, showing a 56.7% growth compared to 977 million manats in the same period of 2020. Year-on-year, the export more than doubled to 545 million manats.
In January-September 2021, the share of production of the industrial zones in the non-oil sector of the country’s industry was 14.2%, and the export of zones in the export of non-oil industrial products made up 25.9%.
The products of the industrial zones were exported to over 30 countries.
The industrial zones have favorable conditions for entrepreneurs. Thus, residents of the industrial parks are exempted from property tax, land tax, income or profit tax, and VAT for import of machinery, technological equipment, and plants for ten years.