Nearly half a billion dollars to be invested in industrial zones of Azerbaijan

Additional 830 million manats ($448 million) are planned to be invested in industrial zones in Azerbaijan for the implementation of current projects, the Chairman of the Board of the Economic Zones Development Agency under the Ministry of Economy, Seymur Adigozalov, said at the press conference held today, Report informs.

According to him, more than 7,000 new jobs will be created in these zones.

He noted that so far, 142 business entities have been granted residency status in industrial zones: "Entrepreneurs have invested more than 6.6 billion manats ($3.88 billion) in industrial zones and created more than 10,000 permanent jobs."

According to the chairman, so far, 12.1 billion manats ($7.11 billion) worth of products have been produced and sold in industrial zones, of which 3.9 billion manats ($2.29 billion), or 32.2%, have been exported: "In particular, in 2023, residents of industrial zones sold products worth 3.3 billion manats ($1.94 billion), of which 989 million manats ($581.56 million) were exported. Compared to 2022, sales increased by 12.5%."

Adigozelov added that last year the share of industrial zones in the production of non-oil industry products was 18.6%, and 23.6% in exports: "Products of industrial zones are exported to more than 65 countries (the US, Canada, Brazil, the UK, Italy, Austria, Spain, the UAE, Israel, China, India, etc.).