BAKU, Azerbaijan, May 14. Within Azerbaijan's Araz Valley Economic Zone Industrial Park, situated in an advantageous area for logistics opportunities, there are sixteen resident business entities with an investment portfolio of approximately 130 million manat ($76.47 million) and three non-resident entrepreneurs.
The data obtained by Trend from the Economic Zones Development Agency under the Ministry of Economy shows that these corporate entities and entrepreneurial ventures aim to establish a cumulative total of 1,800 sustainable employment opportunities.
Over 30 percent of the territory overseen by the Economic Zones
Development Agency has been allocated to private sector
stakeholders.
Moreover, an investment exceeding 35 million manat (equivalent to
$17.4 million) has been allocated by entrepreneurs towards the
initiatives undertaken in the park, resulting in the establishment
of approximately 100 permanent employment opportunities to
date.
Over 30 percent of the park's expansive 200-hectare footprint has
been allocated to entrepreneurial ventures for operational
utilization. At present, a duo of enterprises is actively engaging
within the confines of the park's operational ecosystem.
To date, entrepreneurs within the industrial park have transacted a
cumulative value of 1.7 million manat (equivalent to $1 million) in
goods and services.
Furthermore, initiatives are presently in motion to establish over five commercial entities within the designated zone.
To note, the Araz Valley Economic Zone industrial park was created in the 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.
