Industrial park to be created in Sumgait

Creation of free economic zones with thousands of job opportunities is a very important factor for introduction of modern technologies and cultivation of management culture. For example, China, which impressed the world by its rapidly developing economy, and many countries of Southeastern Asia give preference to Free Economic Zones by spending more that 50% of investments on them. Azerbaijan also wants to create free economic zone in Sumgait city. The industrial park to be built in Sumgait city will boost the country’s chemical industry and promote significance of Azerbaijan in the region. Besides, it is possible to create special economic areas along the coastal strip of the Caspian sea and in Ganja city, including its outskirts. Here, adoption of foreign practices can bring billion dollar benefit to the country. Member of Parliament, economist-scientist Ali Masimli said: “If Dubai model is applied in our country, the total weight of Azerbaijan in the region will increase. At the same time, Azerbaijan, playing significant role as a bridge between the East and the West, will expand ties with both the oil and non-oil sectors.

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