Azerbaijani economy minister shines spotlight on industrial zone achievements

Azerbaijani Economy Minister Mikayil Jabbarov has highlighted the achievements and activities within the country's industrial zones.

“Between 2021 and 2024, 94 business entities with an investment portfolio of approximately 950 million manat [$558 million] were granted residency in the industrial zones under the Economic Zones Development Agency. During this period, 29 enterprises launched their operations. The registered residents are projected to create a total of 8,868 jobs through their projects,” Caliber.Az reports, citing the minister’s message on X.

Earlier, Deputy Chairman of the Board at the Economic Zones Development Agency of Azerbaijan (EZDA) Emil Hajiyev outlined the pivotal role of Azerbaijan's industrial zones in transforming the nation’s economy. The focus of these zones is not only to attract investment but also to foster diversification, job creation, and enhanced global trade relationships.

Hajiyev highlighted the strategic advantages these industrial zones offer, including tax incentives, advanced infrastructure, and significant export potential. Together, these factors made a remarkable impact, contributing to 17 per cent of Azerbaijan's non-oil production and 25 per cent of non-oil exports.

One of the key goals of this initiative was the creation of 20,000 new jobs, signalling a broader push to reduce reliance on imports and bolster the country's position in global markets. Hajiyev stressed the integration of green energy within the industrial sectors, underlining Azerbaijan's commitment to sustainable growth and expanding access to international markets.

By Naila Huseynova