BAKU, Azerbaijan, March 12. In the Masalli Industrial Park, under the watchful eye of the Agency for the Development of Economic Zones, a total of nine business entities have hit the ground running, with investments that soar past 14.7 million manat ($8.6 million). Six of these ventures are already up and running, making waves in the local economy, the agency told Trend.
The entrepreneurs have allocated a cumulative investment of 2.1 million manat ($1.2 million), facilitating the establishment of more than 70 sustainable employment opportunities.
"In the next phase, an additional investment of 12.6 million manat ($7.4 million) is planned for existing projects, with over 300 more permanent jobs expected to be created.
So far, products worth 14.4 million manat ($8.4 million) have been produced in the Masalli Industrial Park," the agency noted.
To note, Masalli Industrial District was established by Decree No. 2115 dated June 13, 2016, of the President of Azerbaijan.