BAKU, Azerbaijan, August 15. In the first half of this year, the Masalli Industrial District in Azerbaijan has churned out products valued at 1.5 million manat, marking a 15 percent increase compared to the same stretch last year.
The data obtained by Trend from the Economic Zones Development Agency shows that in the Masalli Industrial District, managed by the agency, residency status has been granted to nine business entities with a total investment volume exceeding 14.7 million manat ($8.65 million), and six enterprises have already started operations.
Entrepreneurs have allocated a cumulative capital infusion of
2.12 million manat ($1.25 million) into their ventures, thereby
generating in excess of 70 sustainable employment
opportunities.
In the subsequent phase, a supplementary investment of 12.6 million
manat ($7.42 million) is earmarked for ongoing initiatives,
anticipating the generation of over 300 stable employment
opportunities.
The Masalli Industrial District serves as a pivotal nexus in
enhancing the investment ecosystem within the nation, catalyzing
job creation, amplifying non-oil industrial output, and
facilitating export expansion.
To date, the district has realized a production output valued at
15.9 million manat, equivalent to approximately $9.36 million.
