The development of the Middle Corridor is creating new opportunities for companies seeking to expand their supply chains and establish manufacturing facilities closer to regional markets, Azerbaijani Deputy Economy Minister Samad Bashirli said. Speaking at the panel discussion titled “Industrial Platforms and Free Economic Zones: Azerbaijan as a Regional Manufacturing Hub” during the second Azerbaijan International Investment Forum in Baku on Friday, Bashirli said the Middle Corridor was strengthening Azerbaijan’s potential as a regional production center. Bashirli noted that 10 industrial parks are currently operating in different regions of Azerbaijan, covering a broad range of sectors, including chemicals, petrochemicals, mechanical engineering, textiles, pharmaceuticals, construction materials and food processing.
A total of 139 companies have been registered in these industrial parks, more than 100 of which are currently operational. The value of products manufactured in the industrial parks has reached $3.7 billion, with approximately $1 billion worth of products exported, he said. An important component of this ecosystem is the Alat Free Economic Zone, Bashirli added.
Designed particularly to attract export-oriented, high-tech and high-value-added manufacturing, the zone operates under a special legal and regulatory framework. This includes a “one-stop shop” approach aimed at simplifying procedures for investors, he said. The second Azerbaijan International Investment Forum is currently being held in Baku.
The two-day forum is organized by the Ministry of Economy and its subordinate Azerbaijan Export and Investment Promotion Agency (AZPROMO), with the European House-Ambrosetti serving as its strategic partner. The forum’s plenary and panel sessions will address a range of strategic issues, including the Middle Corridor, energy and the green transition, artificial intelligence and digital transformation, infrastructure, industry and free economic zones, critical raw materials, agribusiness, financial cooperation, small and medium-sized business development, tourism, real estate and investment in human capital. Here we are to serve you with news right now.
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