Gov’t develops new proposals for increasing self-employment
Economy Minister Shahin Mustafayev has announced that proposals are being drafted to increase self-employment in Azerbaijan. The minister said that the proposals are being prepared jointly with the Ministry of Labor and Social Protection of Population.
Economy Minister Shahin Mustafayev has announced that proposals are being drafted to increase self-employment in Azerbaijan.
The minister said that the proposals are being prepared jointly with the Ministry of Labor and Social Protection of Population.
Currently, industrial zones and parks are being created, which will allow increasing employment in the business sector and give momentum to the development of the nonoil sector, according to the minister.
He noted that the Mingachevir and Pirallahi industrial parks are now being constructed, adding that the Sumgait Chemical Industrial Park, Balakhani and Garadagh industrial parks already operate in Azerbaijan.
The economy minister said it is planned to open nearly 2,000 jobs in the Sumgait Chemical Industrial Park and investments in this park will be about $1.2 billion.
“Investments in the Balakhani Industrial Park will amount to 22 million manats ($12.9 million). Five waste recycling enterprises will start operating in the park in the first half of 2017, which will provide employment to almost 400 people,” according to Mustafayev.
He added that the Garadagh Industrial Park attracted investments worth $470 million, which will allow creating 2,000 new jobs.
“In addition, building of nine mills in the Mingachevir Industrial Park will create more than 5,500 new jobs. Investments in this park will amount to 150-200 million manats ($88-$117 million).”
As for the Pirallahi industrial park, he stated that preparatory works for its establishment are currently underwear.
The park is planned to produce more than 100 kinds of pharmaceutical products in future.
Meanwhile, the Neftchala industrial district is already provided with all needed infrastructure, and currently, work on creation of the Azerbaijani-Iranian automobile factory is implemented there.
Mustafayev noted that in total, 85,000 new jobs have been created in Azerbaijan as of early April 2017, including more than 40,000 jobs in the private sector.
Today, the work is underway in Azerbaijan to attract more residents to the Sumgait Chemical Industrial Park, Balakhani, Garadagh, Mingachevir and Pirallahi industrial parks, Mingachevir High Tech Park, Sumgait Technologies Park, as well as in Neftchala and Masalli industrial districts.
Residents of Azerbaijan’s industrial parks are exempt from real estate, land, profit taxes, as well as value-added tax on import of equipment for a period of seven years.
Main objective of the establishment such parks in the country are the creation of favorable conditions in the country for further development of industrial production, provision of support to entrepreneurs, and increasing employment of population in the sphere.