Azerbaijan's Sumgayit Chemical Industrial Park Welcomes New Resident

2/23/2024 5:11:34 AM

(MENAFN- Trend News Agency) BAKU, Azerbaijan, February 23. Azermirror LLC has been granted resident status in Sumgayit Chemical Industrial Park, Azerbaijani Economy Minister Mikayil Jabbarov wrote on X, Trend reports.

"Azermirror LLC has received resident status in Sumgayit Chemical Industrial Park, bringing the number of residents to 40. The company will specialize in the production of aluminum mirror sheets. With an investment volume of about 11 million manat ($6.4 million), the company intends to provide permanent employment for 44 people," the publication says.

Meanwhile, 26 business entities were granted resident status in industrial parks of Azerbaijan managed by the Agency for Development of Economic Zones in 2023 alone. The following 7 business entities received resident status in Aghdam Industrial Park, 5 in Araz Valley Economic Zone, 8 in Sumgayit Chemical Industrial Park, 3 in Pirallahi Industrial Park, 1 in Hajigabul Industrial District, 2 in Sabirabad Industrial District.

The Agency for Development of Economic Zones was established as a state legal entity based on Sumgayit Chemical Industrial Park LLC by Decree No. 1257 of the President of the Republic of Azerbaijan Ilham Aliyev On Measures to Improve Management of Industrial Parks, Industrial Districts and Agricultural parks dated January 22, 2021.

Currently, 6 industrial parks, 4 industrial quarters, 51 agricultural parks, and a Vocational Training Center operate under the agency's management.

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