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Industrial Estates were subordinated to the Agency for Development of Economic Zones

According to the relevant Decrees by the President of the Republic of Azerbaijan dated January 22, 2021, the industrial estates of Neftchala, Masalli, Hajigabul and Sabirabad have been transferred to the subordination of the Agency for Development of Economic Zones established on the basis of Sumgayit Chemical Industrial Park LLC in order to continue economic reforms in the country, to improve further management and control mechanisms in the field of existing industrial parks, industrial estates and agro-parks, to increase the effectiveness of measures in this area and to ensure closer coordination and systematization.

It must be mentioned that the organization and management of industrial estates was entrusted to AIC in accordance with the Decree by the President of the Republic of Azerbaijan dated October 8, 2014.

Azerbaijan Investment Company was established by the Decree of the President of the Republic of Azerbaijan dated March 30, 2006. AIC continues its activity to attract local and foreign investment, implement value-added projects in the domestic economy, as well as to develop the capital market and expand entrepreneurship for the development of non-oil sector.