BAKU, Azerbaijan, May 5. Entrepreneurs have
invested more than 6.9 billion manat ($100.7 billion) in industrial
zones, creating over 10,600 permanent jobs, said Elnur Aliyev,
Azerbaijan’s Deputy Minister of Economy, Trend reports.
Speaking at the “Azerbaijan’s Pharmaceutical Industry:
Yesterday, Today, Tomorrow” event held at the Heydar Aliyev Center,
Aliyev pointed out that, during this period, industrial zones have
generated 16.2 billion manat ($100.7 billion) worth of products,
with 5.2 billion manat ($100.7 billion) of this total being
exported.
“Following the Presidential Decree issued on September 14, 2016,
the Pirallahi Industrial Park was established in Azerbaijan,
covering an area of 30 hectares and specializing in pharmaceutical
production. The park is fully equipped with essential
infrastructure to support entrepreneurial activities, offering
ample opportunities for the manufacturing of competitive products
and services, as well as the establishment of processing
enterprises. The park’s entire territory has already been fully
occupied by residents, reflecting strong interest from
entrepreneurs. As a result, the possibility of expanding the park’s
boundaries is currently under consideration,” he said.
Furthermore, Aliyev highlighted that seven businesses with
investments exceeding 120 million manat have received residency
status in the park.
“These projects have led to investments totaling over 45 million
manat and the creation of nearly 160 permanent jobs. So far,
products worth 64.5 million manat have been produced in the
park.
The full-scale operations of the residents at the Pirallahi
Industrial Park will significantly drive the growth of the
pharmaceutical sector and help meet the demand for medicines and
medical supplies through local production.
It is promising to note that several companies within the park
have already commenced operations. Diamed Co LLC, a resident of the
park, manufactures disposable syringes using cutting-edge
technologies. Another resident, R-Pharm LLC, focuses on packaging
various pharmaceutical products. Additionally, a new pharmaceutical
plant is currently under construction at the park, in collaboration
with the Turkish company Gen İlaç ve Sağlık Ürünleri A.Ş. The
plant, which adheres to international quality standards and
Azerbaijan’s national pharmaceutical safety priorities, will
produce pharmaceutical products in various dosages and packaging
formats,” he added.
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