Azerbaijan's Economy Ministry considering expanding territory of Pirallahi industrial park

The Agency for Development of Economic Zones under Azerbaijan's Ministry of Economy plans to expand the territory of the Pirallahi Industrial Park under its jurisdiction, First Deputy Minister of Economy Elnur Aliyev said at an international conference in Baku dedicated to the Azerbaijani pharmaceutical industry, Report informs.

He noted that the territory of the industrial park is already completely filled with residents, in this regard, the issue of its expansion is on the agenda.

"The Pirallahi Industrial Park was created on an area of ​​30 hectares by the order of the President of the country dated September 14, 2016, and specializes in the production of pharmaceutical products. The industrial park is equipped with the necessary infrastructure for entrepreneurial activity and has all the capabilities for the production of competitive products, provision of services and the creation of processing enterprises. Seven business entities with an investment value of projects of more than 120 million manats ($70.58 million) received residency here. Entrepreneurs invested more than 45 million manats, created about 160 permanent jobs, and manufactured products worth 64.5 million manats," he added.

The deputy minister said that the start of activities of residents registered in the Pirallahi Industrial Park will stimulate the development of the pharmaceutical industry in the country in full force.