By Azernews

By Leman Mammadova

Providing beneficial conditions, industrial parks operating in Azerbaijan are expected to attract more investments to the non-oil sector of the country.

As of today, industrial parks in Azerbaijan produced products worth over 1.5 billion manats ($0.88 billion). Of these, 300 million manats ($176.52 million) accounted for exported products, Sumgayit Chemical Industrial Park told Trend.

In the first half of 2019, goods worth 300 million manats ($176.52 million) was produced in industrial parks, about 50 percent of which were exported.

So far, $3.3 billion has been invested in industrial parks of Azerbaijan. Three industrial enterprises were put into operation in the first half of 2019.

Two of them, SOCAR Carbamide plant and the SOCAR Polymer plant for the production of high-density polyethylene, are located in the Sumgayit Chemical Industrial Park, while Diamed Co Syringe plant was established in Pirallahi Industrial Park.

Two more enterprises are planned to be launched in the Sumgayit Chemical Industrial Park in the second half of 2019. These enterprises will manufacture bags for industrial use and glass sheets produced by thermoforming.

In addition, an Azerbaijan-Russia joint venture for the production of medicines is expected to be established in the Pirallahi Industrial Park.

Establishment of industrial parks with modern production infrastructure envisages sustainable development of Azerbaijan's non-oil sector, increasing the export capability of the country's economy, as well as the production of competitive, import-substituting products, providing employment of local population.

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.

So far, more than 40 residents have been registered in industrial parks in Azerbaijan, 23 of which have already begun production. This year, 8 more residents will start production.

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. At the next stage, it is planned to invest up to $400 million and create more than 1,600 jobs.

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. To date, 21 enterprises already operate in the industrial districts.

It’s noteworthy that industrial production in Azerbaijan increased by 1.5 percent in 2018.