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President Ilham Aliyev signed a decree on establishment of Sumgait Chemical Industrial Park

21 December 2011 18:25 (UTC +04:00)

In the territory of Sumgait Chemical Industry Park, production of competitive products and processing facilities are to be established for petrochemical and other industry fields with priority, APA reports.

The Decree reads: Ministry of Economic Development is instructed to provide necessary measures for formation of Sumgait Chemical Industry Park, clearing the area from old facilities, fitting lands for utilization, setting up internal and external infrastructure (electricity and energy, gas, water, sewerage, telecommunications, transportation, fire protection, industrial purpose, administrative, social and other infrastructure facilities), establishment of services as an office, consulting, laboratory analysis, business incubation, training, vocational training and other services for the implementation of business activity.
Besides, in connection with the implementation of measures, a formation functioning of Sumgait Chemical Industry Park, regulation, development, production and determining the priorities for industrial products, preferential loans, as well as involvement of a consulting companies should be provided.

According to the Decree, "Sumgait Chemical Industrial Park" Limited Liability Company was established under the Ministry of Economic Development in order to organize the activity of Sumgait Chemical Industry Park, documentation of permission for the production areas in the territory, project design, coordination, infrastructure maintenance and other necessary measures.

In addition, the Cabinet of Ministers was instructed to give 167.66 hectares of land to the Ministry of Economic Development from the State Oil Company of Azerbaijan Republic "Azerkimya" Industrial Union within three months for functioning of Sumgait Chemical Industrial Park and to inform the President of Azerbaijan.

Cabinet of Ministers together with Ministry of Economic Development should prepare "Model Regulation on industrial parks," and the draft must be presented to the President of the Republic of Azerbaijan.
According to other paragraph of the Decree, the Ministry of Economic Development, Ministry of Finance, Ministry of Taxes and the State Customs Committee, should prepare together incentive proposals for taxes and customs in the Industrial Park and submit to the President

The Decree reads that the SOCAR together with the Ministry of Economic Development realize measures in order to increase potential of chemical industry, forming private facilities in this area and to get competitive products from local raw materials.

Besides, the Ministry of Taxes and the State Committee on Property Issues of Azerbaijan Republic should take necessary measures for state registration of â€œSumgait Chemical Industry Parkâ€ LLC.

The President of Azerbaijan signed an order on providing functioning of Sumgait Indutrial Park, APA reports. In order to provide functioning of Sumgait Chemical Industry Park, knocking down old facilities in the area, to fit lands for utilization, setting up internal and external infrastructure (electricity and energy, gas, water, sewerage, telecommunications, transportation, fire protection, industrial purpose, administrative, social and other infrastructure facilities), establishment of services as office, consulting, laboratory analysis, business incubation, training, vocational training and other services for the implementation of business activity, 2 million AZN was allocated to the Ministry of Economic Development from Reserve Fund of the President of the Republic of Azerbaijan considered on the state budget for 2011 of the Republic of Azerbaijan.