Employees of the Institute of Economics of the Ministry of Science and Education - Professor Terbiz Aliyev, Associate Professor Mahir Zeynalov and Associate Professor Tariyel Gurbanov - got acquainted with the activities of the "Absheron Private Industrial District" located in Khirdalan. Teyyub Jabbarov, director of Absheron Private Industrial District LLC, gave economic scientists extensive information about the idea of creating an industrial district, its main goals and objectives, activities, the infrastructure created here in accordance with the most modern standards, and business opportunities for entrepreneurs.
T. Jabbarov said that the main goal of the project is to strengthen the industrial ecosystem in the country, encourage the application of innovative technologies, and provide entrepreneurs with a functional business environment in which they can operate with high efficiency. Here, entrepreneurs are provided with modern infrastructure, services, and a working environment that meets high standards. Residents can rent areas here and sell their products both in the Azerbaijani market and export them to other countries. The industrial district creates favorable conditions for them to expand production processes, optimize costs and increase market shares, and with its modern infrastructure, extensive logistics capabilities and effective working environment, it gives entrepreneurs a competitive advantage in local and international markets.
Absheron Private Industrial District is the first private industrial district in Azerbaijan. The complex ecosystem created here not only optimizes production and logistics processes, but also creates conditions for the formation of innovation-oriented initiatives. Thus, startups have the opportunity to operate here free of charge, to develop innovative projects using the technical capabilities of the Industrial District and present them to entrepreneurs. Entrepreneurs who are residents of the Private Industrial District can also hold presentations, meetings, conferences, etc. events here without paying.
The Private Industrial District, conveniently located near the main highway in Khirdalan, has an area of 7.2 hectares. Here, an infrastructure meeting the most modern standards has been created for entrepreneurs - roads, parking, all utilities, internet, communication and security services. Even modern solar panels have been installed, which allows the Industrial District to be fully supplied with electricity. The entrepreneur gains the opportunity to benefit from all services by concluding a contract and paying a monthly total amount corresponding to the area of the land where he is located. In addition, entrepreneurs who have received the status of a resident of an industrial district also gain the opportunity to benefit from all tax and customs privileges provided for industrial districts by law. Here, an entrepreneur can rent a larger area (a ready-made office or land plot with all the necessary infrastructure) starting from 150 square meters and engage in industrial production.
Entrepreneurs operating in the Absheron Private Industrial District can benefit from the following privileges: deploying production technology in a ready-made infrastructure in a short time; effectively using customs regimes; obtaining a residency certificate in a private Industrial District, taking advantage of benefits under the Investment Incentive Document - a 50% discount on profit tax, 100% exemption from import customs duty and VAT on equipment to be imported for production.
Currently, 4 residents have been registered in the Absheron Private Industrial District, who will invest a total of 2 million manat and create more than 50 new jobs. Applications from other entrepreneurs are also being considered, and the number of residents is expected to increase (economics.org.az).
