New industrial wave: Azerbaijan launches three high-tech plants

Sumgayit Industrial Park found itself on the wave of the next stage of industrial growth. With the participation of the head of state, the launch and foundation laying of three high-tech factories took place at the country's production hub.

President of the Republic of Azerbaijan Ilham Aliyev took part in the opening of Baku Cardboard and Box Factory LLC and Azermirror LLC mirror sheet production plant at the Sumgayit Industrial Park.

In addition, the President laid the foundation for a polypropylene and laminated bag production enterprise of Nun LLC. The new productions - from cardboard to soft packaging and glass fiber - are links in one chain.

Millions will be put to work

Now in this market segment we are actively developing our own, writes the newspaper "Caspian". And we're not just covering domestic demand, but also increasing exports. It's no coincidence that the three new enterprises received a powerful financial stimulus: total investments in their development exceeded 37 million AZN. The Baku Cardboard Factory is in the lead - the enterprise cost 20 million manats.

Other players are not far behind: the Nun LLC bag production plant received 11.2 million, and investments in Azermirror glass production amounted to 6.13 million AZN. An effective tandem of the state and private sector helped to achieve such turnover. The Business Development Fund supported entrepreneurship by allocating 6.5 million manats in preferential loans. The status of residents of the Sumgayit Industrial Park also became a powerful catalyst. The industrial sites saved up to 2 million manats on tax and customs preferences alone.

The funds received immediately went to work: they purchased advanced equipment from Germany, China and Turkey. And this is a significant bonus to the repository of tangible prospects. With state support, new enterprises will be able to reach payback faster, creating new jobs and responding to the country's needs with an influx of export revenue. The social effect is also evident: the three enterprises will provide stable work for more than 230 people. The Nun LLC plant, which is creating 140 jobs, will become a real locomotive of employment.

64 people are already working at the cardboard factory, and another 30 are employed in mirror production. The immediate plans organically complement the overall picture. Over 11 thousand people work in the country's industrial zones. By the way, the export geography of Made in Azerbaijan products covers 70 countries, and the total production volume in industrial zones has reached 19.4 billion manats, over 6 billion of which accounts for exports.

Not just transit

Having our own packaging factories right at the gates of the largest ports and transport arteries is also a clear signal to the market: current investments are working for the future.

Our republic is turning into a key crossroads between East and West. Cargo flows through the country's territory are stea