BAKU, Azerbaijan, July 27. A new resident, which will implement food sorting and packaging project, has been registered in the Sumgayit Industrial Park of Azerbaijan.
This is reflected in the information released by the Economic Zones Development Agency under the Ministry of Economy.
According to the agency, FT Warehousing Company LLC has been granted resident status at the Sumgayit Industrial Park, managed by the Economic Zones Development Agency.
The project, with an investment value of 18.5 million manat ($10.88 million), is expected to create 100 new jobs as part of the food sorting and packaging initiative.
To date, 42 business entities with a combined investment commitment of 6.8 billion manat ($4 billion) have been granted resident status at the Sumgayit Industrial Park. Residents have invested more than 5.7 billion manat ($3.35 billion) in the park, creating more than 6,000 permanent jobs.
The industrial zones managed by the agency offer entrepreneurs a competitive and attractive investment environment. Residents benefit from high-quality infrastructure, extensive business opportunities, and favorable operating conditions. In addition, significant tax and customs incentives are provided to encourage investors' activities.
