2024-05-11 15:43:11
An infrastructure network is being created in the Agdam Industrial Park, Day.Az reported on Friday.
According to the Ministry of Economy of Azerbaijan, Minister of Economy Mikail Jabbarov, Special Representative of the President of Azerbaijan in the Agdam, Fuzuli and Khojavend regions Emin Huseynov and representatives of the relevant structures of the Ministry of Economy got acquainted with the work done in the Agdam Industrial Park.
It is noted that the Agdam Industrial Park, created by decree of the President of Azerbaijan dated May 28, 2021, plays a special role in realizing the business potential of the territories liberated from occupation, developing the non-oil sector, increasing employment and increasing the production of competitive products.
In the Agdam Industrial Park, as in other industrial parks, favorable conditions have been created for the development of entrepreneurship. Located at the junction with other regions of Karabakh, the Agdam Industrial Park is the second industrial zone in terms of the number of residents after the Sumgayit Chemical Industrial Park.
“In the park, 21 business entities with a total investment of more than 195 million manats were assigned resident status, and 6 entrepreneurs – non-resident status. It is planned to create more than 1,800 jobs in the industrial park. To date, residents of the industrial park have invested more than 35 million manats, about 300 have been created permanent jobs are currently being created in the Agdam Industrial Park, as well as the creation of an infrastructure network, electricity, gas, water supply, construction of an administrative building, and residents are carrying out construction and installation work for a number of enterprises,” the ministry said in a statement.
BAFCO Invest LLC was registered as a resident of the Agdam Industrial Park in March 2023. The enterprise, located on an area of 2.5 hectares, using advanced German technologies, specializes in the production of safety shoes with metal inserts and soles, intended for use in construction and other fields. 120 new jobs will be created at the enterprise with an investment of more than 10 million manat. As a result of the exemption of residents of industrial parks from paying VAT on imports and customs benefits, BAFCO İnvest LLC has saved more than one million manat to date.
Mister Decor LLC received resident status of the Agdam Industrial Park in October 2022. The enterprise, specializing in the production of wallpaper with an investment of seven million manats, is the first such enterprise in the South Caucasus. The plant, with an annual capacity of 2.1 million rolls per year, plans to create 76 new jobs. Along with the sale of products produced using German and Chinese technologies on the local market, it is planned to export them. As a result of the exemption of residents of industrial parks from paying VAT on imports and customs benefits, Mister Decor LLC has saved more than 400 thousand manats to date.
Metkons LLC received resident status of the Agdam Industrial Park in April 2022. The enterprise, located on an area of 1 hectare, plans to produce ventilation and fire-fighting equipment, as well as various metal products. The investment cost of the enterprise, which uses Turkish, Italian, Russian and Chinese technologies, is 1.9 million manats. 45 people will be provided with permanent jobs. Products produced at the enterprise will be used to satisfy internal needs. As a result of the exemption of residents of industrial parks from paying VAT on imports and customs benefits, Metkons LLC saved more than 100 thousand manats.
In the Agdam Industrial Park, construction and installation work is also carried out by the following enterprises: Rail Trans Service LLC – automatic and telemechanical systems, Eel Electric LLC – for the production of electrical distribution equipment and electrical sockets, Prof-Dam LLC – for the production of roofing, LLC “Tabaterra” – for the production of tobacco products, “Agah Group” LLC – for the production of metal profiles and warehouse racks, etc. Some of these enterprises plan to begin work this year.
It should be noted that currently there are 7 industrial parks and 5 industrial districts in Azerbaijan. Incentive measures are applied to residents of industrial zones. Additional benefits are applied in the Agdam Industrial Park and the Araz Valley Economic Zone Industrial Park located in the liberated territories. These include special preferential bank loans, subsidized social insurance payments, a 20% discount on utilities, exemption from VAT and customs duties on imported raw materials.
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