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
-
On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
-
Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
-
Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
-
While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
Leave a review