A media tour was organized to the pharmaceutical manufacturing facility of Gen Pharma Caucasus Manufacturing Operations LLC at Pirallahi Industrial Park, General Director Farid Aliyev told APA.
Farid Aliyev said the facility is equipped with modern machinery.
According to him, once the enterprise becomes fully operational, 178 people will be provided with permanent jobs.
“The facility will manufacture medicines in the fields of cardiology, neurology, urology, diabetology, gastroenterology, pain relief, antibiotics and other areas. Modern equipment manufactured by leading companies from the United States, Japan, Germany, Switzerland, China, Denmark, Sweden and Türkiye is used in production. The production process makes it possible to manufacture medicines in accordance with high international standards,” he said.
The general director noted that one of the company’s main development targets is to localize the production of more than 500 medicines within five years.
“The products are planned to be exported not only to the domestic market but also to Uzbekistan, Kazakhstan, Georgia and other countries. Within the framework of the project, it is planned to meet domestic demand to the maximum extent possible and expand the geography of exports. We hope that the launch of this facility will contribute to the country’s economic sector and enable high-quality and effective medicines to become more widely recognized and used in our country and among the population,” he said.
The plant has an annual production capacity of 60 million packages of medicines, including 2.5 billion tablets and capsules.
Taleh Guliyev, Head of Department at the Economic Zones Development Agency under the Ministry of Economy, said the main purpose of Pirallahi Industrial Park is to support the development of the pharmaceutical industry in the country, reduce dependence on imports of medicines and increase local production.
He said the creation of new jobs is also one of the park’s main objectives.
“The main goals of establishing the park are to develop and support the pharmaceutical industry, reduce dependence on imports of medicines, promote local production and create new jobs. Currently, six residents are registered at Pirallahi Industrial Park,” Guliyev said.
He noted that Gen Pharma Caucasus Manufacturing Operations LLC was granted resident status at Pirallahi Industrial Park in 2023.
“The total investment portfolio for the park amounts to AZN 175.6 million. Of this amount, AZN 111.3 million has already been directed toward the implementation of projects,” he said.
According to Guliyev, the implemented projects have provided permanent employment for 215 people. To date, the park’s residents have produced goods worth a total of AZN 82.2 million.
Guliyev said a number of incentives are available to entrepreneurs operating in industrial parks.
“First of all, residents are provided with ready-made infrastructure created at the expense of the state. In addition, residents are exempt from property, land and profit taxes for 10 years from the date of registration,” he said.
He added that machinery and equipment imported for production purposes are exempt from value-added tax and customs duties.
It was also noted that, as a resident of the Industrial Park, the company has received exemptions of more than AZN 7 million from VAT and customs duties.
Pirallahi Industrial Park was established in 2016 by a decree of President Ilham Aliyev.
President of the Republic of Azerbaijan Ilham Aliyev attended the opening of the pharmaceutical manufacturing facility of Gen Pharma Caucasus Manufacturing Operations LLC at Pirallahi Industrial Park on October 5.
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