In 2023, 18.6% of non-oil products in Azerbaijan were produced in industrial parks and neighbourhoods

Residents of industrial parks and neighbourhoods managed by the Economic Zone Development Agency (EZDA) of Azerbaijan have invested over AZN 6.6 billion in their projects. EZDA board chairman Seymur Adygezalov said this at today's press conference.

The main achievement of these investments was the opening of more than 10,000 jobs. In other words, the projects were actually working, they produced products worth AZN 12.1 billion, of which even one third - AZN 3.9 billion - was directed to export. In 2023 alone, the volume of production totalled AZN 3.3 billion and exports AZN 989 million.

According to Adygezalov, the last year 18.6% of non-oil production in Azerbaijan was formed in industrial parks and neighbourhoods, and their share in non-oil export reached 23.6%.

Adygezalov added that products produced in industrial zones and neighbourhoods are exported to 65 countries, including India, China, USA, Israel, Canada and others.

By the way, the volume of investments in industrial parks and neighbourhoods in 2023 was AZN 471 million.

Add that today 142 business entities have the status of residents in industrial parks and industrial quarters. All of them are granted property, land and profit tax exemptions for 10 years (from the date of registration), as well as VAT and customs duty exemptions when importing machinery, technological equipment and installations for production purposes, thanks to which the residents managed to save more than AZN 460 million.