BAKU, Azerbaijan, August 11. Close to seven business entities, with a hefty investment of about 129 million manat ($75.9 million), have hit the jackpot by securing residency status in Azerbaijan's Pirallahi Industrial Park, which is under the watchful eye of the Economic Zones Development Agency.
The data obtained by Trend from the agency shows that businesses have already put their money where their mouth is, investing nearly 56 million manat ($33 million) in various operations, which has led to the creation of over 150 permanent jobs.
Pirallahi Industrial Park plays a significant role in improving the investment climate in Azerbaijan, generating new jobs, and boosting both the production and export of non-oil industrial products. To date, products worth 70 million manat ($41.2 million) have been manufactured in the park. During the first half of this year alone, the output totaled 8.6 million manat ($5.1 million), which is about 15 percent more than the same period last year.
The park was established by a presidential decree on September 14, 2016, and spans an area of 30 hectares. The park's domain has been comprehensively designated for entrepreneurial ventures.
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