Azerbaijan's Mingachevir Industrial Park produces export goods worth over $190 million

New figures show that the total value of goods produced inside the Azerbaijani "Mingachevir Industrial Park" equals 326 million manats (approx. $191 million).  

These statistics have been published by the operator of the industrial park, the Economic Zones Development Agency, Caliber.Az reports citing local media.  

According to their numbers, over 84 per cent of the produced output levels were manufactured for export purposes, amounting to 276.6 million manats (approx. $162 million).  

The value of total investments injected into the park by its "residents" is estimated at 159 million manats (approx. $93 million) while the number of jobs created has reached 570.  

As Caliber.Az clarifies, industrial parks are allocated territories that provide the necessary infrastructure and management entities for entrepreneurial activities, required to produce competitive products and provide services through the application of modern technologies.

These contribute to the efficient operation and development of entrepreneurs and hence attracts more businesses to set up their offices in them, also called "residents."  

The Mingachevir Industrial Park was established in 2015 and covers an area of 26 hectares. At the moment the park has one single legal entity as its resident, the "Mingachevir Textile LLC" textile factory.  

By Nazrin Sadigova