President also added that the non-oil sector increased by 9,1%. It is an indicator of the successful industrialization process. "Last year the first phase of the SOCAR Polymer started in Sumgayit. Quality export-oriented products will be produced here. At the same time, products made of polyethylene and polypropylene will be sold in the country. However, we will avoid the dependence on the import. Hundreds of new workplaces will be opened in the plant. I was informed that 500 new workplaces will be created and the majority of the employees are local citizens, especially, young people. Meanshwile, the average age of employees is 30-35. These are the outputs of the works," Aliyev noted.
"Such big plants are of utmost importance for the successful development of the country. The development of the non-oil sector will always be on our priority. As I mentioned, increase by 9,1 % is a high indicator. Certainly, Azerbaijan strengthens its relations with foreign partners when the country realizes those projects. Foreign capital is invested in Azerbaijan. Besides, banks allocate certain amount of money knowing that the money will not go down. Those investors know that Azerbaijan is rich with financial resources. Financial resources are 4,5 times higher than our foreign debts. This attracts foreign partners and banks. However, we intend to reduce the amount of our foreign debts.Last year the foreign debt of the country reduced to 19 % from 22,8% and this rate will reduce further this year," President Aliyev added.
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