In the Araz Valley Economic Zone Industrial Park, which is located in a favorable area in terms of logistics opportunities, 16 business entities with an investment portfolio of about 130 million manats ($76.47 million) have been registered as residents, and 3 entrepreneurs as non-residents, the Economic Zones Development Agency under Azerbaijan's Ministry of Economy, Report informs.
According to the agency, these 19 business entities intend to create a total of about 1,800 permanent jobs in the industrial park.
To date, entrepreneurs have invested more than 35 million manats (%20.6 million) in the work done and created about 100 permanent jobs.
More than 30% of the park, which covers an area of 200 hectares, has been given to entrepreneurs for use. Currently, 2 enterprises are operating in the park.
Entrepreneurs have provided services and sold products worth 1.7 million manats ($1 million) in the industrial park so far. In addition, work is currently underway to build more than 5 enterprises in the park.