The Reserve Fund of the President of Azerbaijan allocated AZN 4 million for the creation of an industrial park in the Pirallahi district of Baku.
According to the presidential decree, the purpose of founding a network of enterprises on the outskirts of Baku is ensuring the sustainable development of the non-oil sector, the expansion of business activity in the industrial sector, the creation of competitive and innovative industries on the basis of advanced technologies, including the development and support of the pharmaceutical industry to reduce dependence on import of pharmaceutical products, the promotion of local production to meet the needs of the population for drugs and increasing employment in the industrial sector.
The document states that the industrial park area (30 hectares of land on Samed Vurgun Street in the Pirallahi district) has the necessary infrastructure and controls for doing business, as well as for the creation of processing enterprises.
The new park will act at the Sumgait industrial park. --17D-
Economics
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