Economy minister: We promote creation of joint ventures in industrial parks

Istanbul. 1 December. REPORT.AZ/ Government of Azerbaijan is interested in creating joint ventures throughout the country, including in the regions.

Minister of Economy of Azerbaijan Shahin Mustafayev told the Turkish bureau of Report News Agency at the 7th Meeting of the Ministers of Economy of the Council of Cooperation of Turkic-Speaking States (Turkic Council) in Istanbul.

According to him, ministry promotes the creation of joint ventures in newly created industrial parks and neighborhoods: "Steps are aimed at this at the social and economic development of the regions. For example, the construction of a joint automobile plant with Iran began in the Neftchala industrial district, it will be put into operation in early 2018. There are already three joint ventures for the production of pharmaceuticals in Pirallahi district and the construction of these plants has begun. At the same time, work in this direction is underway in the Sumgayit Chemical Industrial Park”.

Minister noted that the stimulation of exporters from state budget in amount of 3-6% of the cost of non-oil exports continues: “This is a serious support of the state. In first ten months of 2017, export of non-oil products increased by almost 30% compared to the same period in 2016 and state allocations play in it a huge role”.