BAKU, Azerbaijan, November 1. The Sumgayit Chemical Industrial Park, managed by the Economic Zones Development Agency, has achieved product sales totaling 12.5 billion manat ($7.3 billion), with exports accounting for 4.3 billion manat ($2.5 billion), head of the agency's press service Elchin Kazimov told Trend.
He highlighted that 41 businesses, with collective investments exceeding 6 billion manat ($3.5 billion), have been granted resident status in the largest industrial park in the South Caucasus.
"Currently, 24 of these residents are operational, and plans are underway to launch two additional enterprises within the park this year. The residents have invested 5.5 billion manat ($3.2 million), generating over 6,600 permanent jobs. Furthermore, an additional investment of 546 million manat ($321,000) is anticipated, which is expected to create more than 2,500 jobs.
To date, residents have reported sales of 12.5 billion manat ($7.4 million), including 4.37 billion manat ($2.5 million) in exports. In the first nine months of this year, the park produced goods worth 2.13 billion manat ($1.2 million) and exported products totaling 762.7 million manat ($447,000)—a notable increase of 13.1 percent in exports compared to the previous year.
The Sumgayit Chemical Industrial Park contributed 15.6 percent of the non-oil industry’s production during this period and accounted for 24.7 percent of exports,” Kazimov said.