The Balakhani Industrial Park is a successful example of partnership between the state and the private sector in Azerbaijan.
Expert and economist Fuad Alizade made the remark during a press tour to the industrial park organized by Azerbaijan’s Economy Ministry on June 2.
The participants of the press tour got acquainted with the improvement work carried out in Balakhani settlement by the Tamiz Shahar OJSC, visited the landfill for solid domestic waste disposal, as well as plants for sorting and incineration of solid domestic waste.
“We see how local producers set up production at minimal costs with the support of the state. This is a successful example of public-private partnership. The state supports the development of private sector. Everyone wins from it. Companies develop, pay taxes to the state budget, industrial production grows and new jobs are created,” Alizade said.
Chairman of the Center for Economic and Social Development of Azerbaijan, expert Vugar Bayramov, in turn, told reporters that the creation of industrial parks, such as the one in Balakhani, promotes industrial development in Azerbaijan, import substitution and prevents the outflow of foreign currency from the country. He added that the activity of industrial parks contributes to the opening of new jobs.
The Balakhani Industrial Park was created upon President Ilham Aliyev’s decree dated December 28, 2011. The opening of the Park was held on September 22, 2017. The management company of the Balakhani Industrial Park, having an area of 7 hectares, is Tamiz Shahar OJSC.
Currently, the number of the Park residents is 11. Five enterprises are already operating, and six more will start in the near future. The five residents are engaged in recycling of used motor oil, waste plastic bottles, paper and cardboard products, waste plastic materials and sponge waste.
The volume of investments the residents made in the Park is $18.8 million, and about 400 permanent jobs were created there at the first stage.