Eight residents to start production in industrial parks

By Leman Mammadova 

In 2018, industrial production in Azerbaijan increased by 1.5 percent, Economy Minister Shahin Mustafayev told local media.

He said that the development trend continued in 2019. “In the first quarter of this year, growth in the non-oil sector was 1.7 percent, in industrial production 4.4 percent, and in the non-oil industry - 15.6 percent.”

Mustafayev underlined that in 2019, another 8 residents will start production in industrial parks in Azerbaijan.

The minister noted that so far, more than 40 residents have been registered in industrial parks in Azerbaijan, 23 of which have already begun production.

Mustafayev also stressed that last year $451 million was invested by residents in industrial parks, while the total investment in projects is estimated at $3.3 billion.

About 9,000 permanent jobs have already been created in industrial parks.

The minister added that at the next stage, it is planned to invest up to $400 million and create more than 1,600 jobs.

He further noted that for now, enterprises in the industrial parks produced goods for 1.36 billion manats ($0.8 billion), 250 million manats ($147 million) of which accounted for exported products.

Touching upon the activities of industrial districts, Mustafayev noted that as of today, they have already produced products worth 33 million manats ($19 million).

“On the territory of industrial districts, 36 participants have already been registered, the total investment of which is estimated at 140 million manats ($82 million). It is also planned to open up to 2,000 permanent jobs,” he said.

Mustafayev noted that to date, 21 enterprises already operate in the industrial districts, adding that in 2019, 15 more enterprises will start operations there.

At present, there are 5 industrial parks in Azerbaijan - Sumgayit, Garadagh, Mingachevir, Pirallahi and Balakhani, as well as 3 industrial districts - Neftchala, Masalli and Hajigabul. In addition, work is underway to launch the Sabirabad industrial zone.

Mustafayev also added that in the first quarter of this year, $2.8 billion were invested in Azerbaijan’s economy, $2 billion of which was invested in the non-oil sector. “During this period, GDP grew by 3 percent. This is considered the highest for several years.”