Azerbaijan Announces Imminent Opening Of Factories In Nation's Alat Free Economic Zone

(MENAFN- Trend News Agency) SHUSHA, Azerbaijan, July 2. We'll open two factories in the Alat free economic zone in Azerbaijan this year, and 10 companies are already passing registration, Deputy Chairman of the Board of Directors of the Alat Free Economic Zone Authority Ismayil Manafov said at the Economic Cooperation Organization (ECO) Business Forum held in Shusha, Trend 's correspondent sent to Shusha reports.

"We have agreed with investors to create a multimodal cargo airport. The implementation of this project has already begun and is expected to begin operations in 2026. The airport has an annual capacity of 500,000 tons. This figure will increase to two million tons," he stressed.

Manafov noted that the main goal is to attract investors and develop exports.

The construction of industrial zones is a primary catalyst for this favorable economic transformation in Azerbaijan, offering several opportunities and incentives for local and foreign investors. Currently, Azerbaijan possesses 7 industrial parks, 5 industrial areas, and 24 agroparks.

Since 2005, Azerbaijan's industry has garnered a total of $71.7 billion in investments at current prices, with $38.8 billion being foreign capital. During the same year, industrial enterprises have allocated approximately $276.5 million towards the implementation of technical breakthroughs. In this setting, industrial zones have arisen as facilitators for the implementation of innovative technology and commercial innovations across diverse industrial sectors.

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