Azerbaijani Economy Ministry talks on amount of investments in regions

  12 February 2018    Read: 1402
Azerbaijani Economy Ministry talks on amount of investments in regions
In 2004-2017, 67.5 billion manats was allocated for the development of the Azerbaijani regions, Azerbaijani Minister of Economy Shahin Mustafayev said.

Mustafayev made the remarks at the expanded meeting of the board dedicated to the fulfillment of the instructions of the country’s President Ilham Aliyev made at the conference dedicated to the fourth year of implementation of the state program on socio-economic development of regions of Azerbaijan in 2014-2018, the Azerbaijani Ministry of Economy said Feb. 12.

The minister said that 4.5 billion manats was allocated for development of the country’s regions in 2017.

Mustafayev also added that a number of measures aimed at further development of the country's regions are being taken.

"In particular, the work is underway to increase the number of production facilities at Azerhalcha OJSC,” he added. “The carpet factories have been constructed in 10 Azerbaijani regions. Ten more factories, five spinning and dyeing facilities, a spinning and dyeing factory are being built."

“The enterprises operating in various spheres of production were put into operation in 2017,” he said. “A number of enterprises are being built. The foundation of new enterprises was laid.”

"The factory for the production of tobacco products will be commissioned in 2018 which will allow to greatly reduce the import dependence in this sphere,” he said. “The foundation of that factory was laid in 2017. Moreover, the work is underway to establish the facilities for receiving and drying of tobacco and strengthening the capacities of existing cigarette factories.”

The minister also added that in accordance with the president’s instruction, the country’s Ministry of Economy will analyze the possibilities for setting up the production of detergents and cleaning products.

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