BAKU, Azerbaijan, January 27. On January 27, President of the Republic of Azerbaijan Ilham Aliyev participated in the inauguration of the cardboard and box packaging production facility of “Baku Cardboard and Box Factory” LLC in the Sumgayit Industrial Park, TurkicWorld reports.
Kamran Salmanli, head of “Baku Cardboard and Box Factory” LLC, briefed the head of state on the enterprise’s operations.
It was reported that “Baku Cardboard and Box Factory” LLC, which was granted resident status in the Sumgayit Industrial Park in 2023, established the cardboard and box packaging production facility on nearly three hectares of the Park’s territory. Utilizing Turkish and Chinese technologies, the facility will produce 55 million square meters of cardboard and box packaging annually. The project is planned in two phases: the first phase involves the production of cardboard and boxes, while the second phase will focus on recycling local raw materials required for cardboard production. In addition to meeting domestic market demand, the products are intended for export. The investment value of the facility amounts to 20 million manats. The Azerbaijan Business Development Fund under the Ministry of Economy allocated a preferential loan of 2 million manats for the establishment of the enterprise. The facility has created 64 permanent jobs. Benefiting from all incentives provided to industrial park residents, the enterprise has enjoyed tax and customs exemptions totaling approximately 1.3 million manats.
Broad incentive and stimulation mechanisms are applied for residents of industrial zones to promote the development of entrepreneurship. Residents are provided with ready-made infrastructure created at the state’s expense, including gas, electricity, water, wastewater disposal systems, internal roads and railways, as well as fiber-optic internet lines. At the same time, 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, technological equipment, and devices intended for production purposes.
