Azerbaijan's pharmaceutical sector set to surge with expansion of Pirallahi Industrial Park

The Pirallahi Industrial Park in Azerbaijan is poised for expansion to meet the growing demand for its services, said First Deputy Minister of Economy, Elnur Aliyev.

At the international conference "Azerbaijan’s Pharmaceutical Industry: Yesterday, Today, and Tomorrow" in Baku, it was revealed that the park’s facilities are fully occupied, leading to plans for expansion to support further business activities, Caliber.Az reports per local media.

Established in 2016 by a presidential decree, the park spans 30 hectares and is dedicated to pharmaceutical production. It boasts robust infrastructure designed to support businesses, enabling the creation of competitive products, processing enterprises, and a range of services.

Currently, the Pirallahi Industrial Park houses seven business entities, with total investments surpassing 120 million manats. Entrepreneurs have contributed over 45 million manats, resulting in the creation of approximately 160 permanent jobs. These businesses have collectively produced goods valued at 64.5 million manats.

Aliyev underscored that the park’s full-scale operations are expected to significantly bolster the development of Azerbaijan's pharmaceutical sector, further enhancing its competitive edge in the industry.

Moreover, Valeh Aleskerov, Chairman of the Supervisory Authority of the Special Economic Zone (SEZ), announced at the same conference that a new international airport, currently under construction within Azerbaijan’s Alat Free Economic Zone, will also accommodate passenger flights.

“The airport will span an area of 750 hectares. Originally, it was intended exclusively for cargo operations, but we have decided to revise the concept and include passenger services,” Aleskeroff explained.

The expansion is expected to further enhance the economic prospects of the Alat Free Economic Zone, providing both cargo and passenger connectivity to the region.

By Aghakazim Guliyev