BAKU, Azerbaijan, February 14. More than 30 percent of the Araz Valley Economic Zone industrial park managed by the Economic Zones Development Agency (EZDA) in Azerbaijan has been transferred to entrepreneurs.
Data obtained by Trend from the agency shows that the park currently has 16 residents and two non-residents.
These 18 business entities plan to invest more than 130 million manat ($76.47 million) in the park and create more than 1,800 permanent jobs.
More than 29.6 million manat ($17.4 million) has been invested by the residents in the work done in the park and about 100 permanent jobs have been created so far.
Currently, one enterprise is operating in the park, and the construction of more than five enterprises is being continued.
To note, the Araz Valley Economic Zone industrial park was created in Jabrayil district following the Presidential decree dated October 4, 2021. The park’s main activities will include the establishment of a logistics and trade center, warehouse complexes, wholesale and retail outlets, parking areas, customs and fuel stations, and service centers for vehicles and equipment.