Azerbaijan invites Austrian company to invest in its industrial zones

The Azerbaijani government has invited Austrian company Grabher Group GmbH to invest in the country's industrial zones.

Thus, Azerbaijan’s Economic Zones Development Agency under the Economy Ministry held a meeting with a delegation headed by the general director of the Austrian company Gunther Grabher, Report informs.

The guests were informed about the favourable investment opportunities created in the industrial zones for entrepreneurs, tax and customs privileges.

The possibility of establishing the processing of various polypropylene products manufactured by SOCAR Polymer LLC, a resident of Sumgayit Chemical Industrial Park, in the industrial zones was also discussed.

Azerbaijan has five industrial zones, with the primary goal of ensuring the long-term development of the non-oil sector, creating and expanding new production areas in the country through the use of innovative technologies, and expanding the export map of these products.

The establishment of industrial parks is one of the areas with a high potential for innovative economic development. Decrees were signed to establish the Aghdam Industrial Park (May 28, 2021) and the Araz Valley Economic Zone (October 4, 2021) in Azerbaijan's liberated territories.