86 PERCENT Of The Products Produced In Mingachevir Industrial Park Exported
(MENAFN- AzerNews)
Qabil Ashirov Read more
More than AZN272m ($160m) worth of products has been produced in
the yarn manufacturing enterprises of the Mingachevir Industrial
Park specializing in the textile industry, Azernews reports, citing the Economic Zones
Development Agency (EZDA).
It was reported that AZN234m ($138m), i.e. 86 percent, of the
product was exported.
"Thus, if more than AZN57m ($33,5m) were produced in the
Industrial Park in 2022, then more than AZN58m ($58 m) were
produced in 2023. In addition to being sold to the domestic market,
the manufactured products are sold to Turkiye, Ukraine, Russia,
Portugal, Poland, Pakistan, etc. under the brand name "Made in
Azerbaijan." German, Swiss, Japanese and Turkish technologies are
used in the production process. Modern technology ensures that the
product is of high quality and increases the possibility of export.
So far, 159 million manats have been invested in Mingachevir
Industrial Park, and more than 500 permanent jobs have been
created. In the Mingachevir Industrial Park, as in other existing
industrial parks in the country, favorable conditions for the
development of entrepreneurship have been created, and stimulating
measures are applied for investors," the information states.
Basically, support to entrepreneurs by the Economic Zones
Development Agency is carried out in 3 directions. Provision of
organizational support (implementation of the "One Window" system;
acquisition of technical conditions, special permits and licenses;
consulting and training services; organization of meetings with
local authorities and businessmen), infrastructure support
(residents of industrial parks with ready-made infrastructure at
the expense of state funds - are provided with gas, electricity,
water, sewerage, internal roads and railways, fiber optic lines),
application of tax and customs benefits (residents of industrial
parks are exempt from property tax, land tax, income or profit tax
for 10 years from the date of their registration, they are exempted
from VAT and customs duties during the importation of machinery,
technological equipment and facilities they import for production
purposes) support.
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