New residents boost Aghdam & Araz Valley Industrial Parks in Azerbaijan

Seven business entities received resident status in Azerbaijan's Aghdam and Araz Valley Economic Zone industrial parks during the first quarter of 2024, Azernews reports.

The Economic Zones Development Agency (EZDA) noted that the registered residents are planning to invest AZN54.2 million ($31.88 million) and create 480 jobs in the industrial parks.

The agency said that residents will produce fibre-reinforced concrete and polystyrene concrete blocks, dry construction mixtures, cement and concrete additives, various types of adhesive tapes, orthopaedic mattresses, upholstered furniture, shoes, and other products.

Meanwhile, a total of 31 business entities have resident status, while seven have non-resident status in the mentioned parks.

Moreover, 38 business entities plan to invest more than AZN263 million ($154.7 million) and create more than 2,500 jobs in the industrial parks.