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.
