BAKU, Azerbaijan, October 27. An animal feed production facility will be established in the Aghdam Industrial Park in Azerbaijan.
This was announced by the Economic Zones Development Agency under the Ministry of Economy.
Aghdam Agro Yem LLC will implement a project for the production of animal feed for livestock farms.
According to the information, Aghdam Agro Yem LLC has been granted resident status in the Aghdam Industrial Park, which is managed by the agency.
The company plans to establish a facility within the Park to produce animal feed tailored to the needs of livestock farms. The project, which involves an investment of 11 million manat ($6.47 million), will contribute to improving the feed supply for livestock farms and expanding local production and export opportunities.
The Aghdam Industrial Park was established in the Aghdam district, covering an area of 190 hectares, pursuant to a decree issued by the President of Azerbaijan, Ilham Aliyev, on May 28, 2021. The objective behind the creation of the Park is to revitalize the territories liberated from occupation, develop the industrial potential of Karabakh, support entrepreneurship, and increase employment in the production sector. The priority areas for the Industrial Park include the production of construction materials; the packaging of agricultural products; the processing and production of canned fruits and vegetables, meat, dairy, animal feed, and fertilizers; the development of service sectors; and the establishment of cold storage facilities. The state has fostered a favorable investment climate within the Aghdam Industrial Park to facilitate the development of entrepreneurial activity. Residents are fully exempt from property, land, income, and profit taxes for a period of 10 years. Furthermore, machinery, equipment, and raw materials imported for production purposes are exempt from VAT and customs duties for 10 years. Additionally, the framework includes measures such as the subsidization of social insurance contributions and other incentives for entrepreneurs. Products manufactured in the Industrial Park, which ranks second in the country by the number of residents, are not only directed toward meeting local demand but are also exported.
