Azerbaijan, Türkiye discuss prospects of investing in industrial parks PHOTO

Azerbaijan and Türkiye have discussed the prospects of investing in industrial parks.

According to the Information of the Economic Zones Development Agency under the Ministry of Economy of Azerbaijan (IZIA), a study tour to Sumgayit Chemical Industrial Park was organized for a delegation of employees of companies belonging to the Bursa Chamber of Commerce and Industry, Trend reports.

The visit was attended by employees of more than 15 companies operating in the chemical industry of Türkiye.

Deputy Chairman of the Board of the Economic Zones Development Agency Elkiyar Ziyadov informed the company representatives about industrial zones operating in Azerbaijan, available investment opportunities for business development, tax and customs privileges applied.

In turn, representatives of the companies participating in the meeting talked about the activities of the enterprises they represent and opportunities for cooperation.

Afterwards, the prospects of investing in industrial parks were discussed and opinions on issues of mutual interest were exchanged. Representatives of Turkish companies were invited to invest in industrial parks established in the territories liberated from occupation.

In 2023, 26 business entities were granted resident status in industrial zones under the jurisdiction of the Agency for the Development of Economic Zones.

Seven of them are registered as residents in Aghdam Industrial Park, five in Araz Valley Economic Zone Industrial Park, eight in Sumgayit Chemical Industrial Park, three in Pirallahi Industrial Park, one in Hajigabul Industrial District and two in Sabirabad Industrial District. The residents intend to invest AZN 471 million ($277 million) and create more than 3,100 permanent jobs.