Neftchala Industrial Quarter to Produce Cars, Too

From September on, the Neftchala district will not be associated exclusively with fish and an iodine-bromine plant. The local industrial quarter has already received 8 calls from investors to provide them with resident status, the Deputy Economy Minister Sevinj Hasanova told reporters during the public hearings on Industrialization and Innovative Development.

"So far, local investors, however, have discussed the possibility of attracting foreign capital against the backdrop of government benefits. We hope that on this background, interest in the activities on the territory of NIQ is a multiple increase," said the official, noting that in addition to processing and preserving of fish production it is planned to establish production of cars here.

Recall, the President of Azerbaijan Ilham Aliyev on February 2 last year signed a decree on the establishment of an industrial quarter in Neftchala, entrusting the organization and regulation of its activity to the Azerbaijan Investment Company with 100% state participation (AIC charter capital is 160 million AZN).

Currently, residents of the quarter are two entrepreneurs, engaged in the production of fish feed as well as pumps and trailers. --17D-