20 firms gain resident status in Azerbaijan’s industrial zones

A total of 20 businesses were granted resident status in the industrial zones, managed by Economic Zones Development Agency under Azerbaijan’s Economy Ministry, during the first seven months of 2024, Report informs, citing the agency.

Among these, ten are located in Aghdam Industrial Park, five in the Araz Valley Economic Zone Industrial Park, one in Sumgayit Chemical Industrial Park, one in Pirallahi Industrial Park, two in Masalli Industrial District, and one in Sabirabad Industrial District.

These new residents are expected to invest over 118 million manats (just over $69.4 million) in the industrial zones, creating more than 1,000 permanent jobs.

As of now, 150 business entities with a combined investment value of more than 7.8 billion manats ($4.588 billion) have been granted resident status in these industrial zones.