Sumgayit: On January 27, President of the Republic of Azerbaijan Ilham Aliyev participated in the inauguration of a new cardboard and box packaging production facility by 'Baku Cardboard and Box Factory' LLC at the Sumgayit Industrial Park.

According to Azeri-Press News Agency, Kamran Salmanli, head of 'Baku Cardboard and Box Factory' LLC, informed President Aliyev about the operations of the new enterprise. The facility, which occupies nearly three hectares within the industrial park, was granted resident status in 2023. It aims to produce 55 million square meters of cardboard and box packaging annually using advanced Turkish and Chinese technologies. The project is divided into two phases: the first phase focuses on the production of cardboard and boxes, while the second phase will concentrate on recycling local raw materials needed for production. In addition to fulfilling domestic market needs, the products are also aimed at export markets.

The facility represents an investment of 20 million manats, with the Azerbaijan Business Development Fund providing a preferential loan of 2 million manats for its establishment. The operation has generated 64 permanent jobs and benefits from tax and customs exemptions amounting to approximately 1.3 million manats, as provided to all industrial park residents.

Residents of industrial zones in Azerbaijan enjoy various incentives to foster entrepreneurship, including ready-made infrastructure supported by the state. This infrastructure includes vital utilities such as gas, electricity, water, and wastewater disposal systems, as well as internal roads, railways, and fiber-optic internet lines. Additionally, residents are exempt for 10 years from property, land, and profit taxes, as well as from value-added tax and customs duties on imported machinery and equipment intended for production purposes.