President of the Republic of Azerbaijan Ilham Aliyev participated in the opening of the cardboard and box packaging production enterprise of “Baku Cardboard and Box Factory” LLC in Sumgayit Industrial Park on January 27.
Modern.az reports that Kamran Salmanli, head of “Baku Cardboard and Box Factory” LLC, provided information to the head of state about the enterprise's activities.
It was reported that “Baku Cardboard and Box Factory” LLC, which was granted resident status of Sumgayit Industrial Park in 2023, established a cardboard and box packaging production enterprise on an area of approximately 3 hectares within the Park. The enterprise, utilizing Turkish and Chinese technologies, will produce 55 million square meters of cardboard and box packaging annually. It is planned that the first stage will involve the production of cardboard and boxes, while the second stage will focus on the recycling of local raw materials required for cardboard production. The products will not only meet the demands of the domestic market but also be exported. The investment value of the enterprise is 20 million manats. A preferential loan of 2 million manats was allocated for its establishment by the Azerbaijan Business Development Fund under the Ministry of Economy. 64 permanent jobs have been created here. The enterprise, benefiting from all concessions granted to industrial park residents, has received tax and customs exemptions worth approximately 1.3 million manats.
It should be noted that extensive concessions and stimulating mechanisms are applied for residents to promote the development of entrepreneurship in industrial zones. Thus, residents are provided with ready infrastructure created at the expense of state funds – gas, electricity, water, wastewater disposal systems, internal automobile and railways, as well as fiber-optic internet lines. At the same time, residents are exempt for a period of 10 years from property, land, and profit taxes, value-added tax on machinery, technological equipment, and installations imported for production purposes, as well as customs duties.
