Seven business entities to receive residential status of Aghdam Industrial Park

By Azernews

By Sabina Mammadli

Seven more business entities will receive the residential status of the Aghdam Industrial Park, Deputy Chairman of the Board at the Economic Zones Development Agency Elkhan Shiriyev said.

He made the remarks at the panel session on the topic 'Business in Karabakh and investment opportunities' on October 19.

“Today, seven business entities are residents of the Aghdam Industrial Park and seven more are planning to receive a resident status," Shiriyev emphasized.

Noting that the park was created back in 2021, Shiriyev added that its territory has been completely cleared of mines and unexploded ordnances.

Further, the official highlighted that Araz Valley economic zone industrial park is mainly focused on creating logistics centers. Shiriyev stressed that one resident of the industrial park plans to start organizing a transport maintenance service and another non-resident intends to create a gas station.

He added that mobilization points for business entities of these parks have already been created in both industrial zones, and work is underway to build enterprises.

Earlier it was reported that three international exhibitions opened in Baku today.

Local and foreign companies along with German, Iranian, and Turkish national stands are in Baku to showcase their products. Over 300 companies from different countries are taking part in the exhibitions. The exhibitions are organized by the Caspian Event Organisers.

Azerbaijan has five industrial zones, with the primary goal of ensuring the long-term development of the non-oil sector, creating and expanding new production areas in the country through the use of innovative technologies, and expanding the export map of these products.

The establishment of industrial parks is one of the areas with a high potential for innovative economic development. Decrees were signed to establish the Aghdam Industrial Park (May 28, 2021) and the Araz Valley Economic Zone (October 4, 2021) in Azerbaijan's liberated territories.