New tenant of Balakhani Eco-Industrial Park
15/03/2010 10:00
“The development of non-oil sectors: furniture industry” event was organized by the Ministry of Economy on the 28th of October at Baku Business Centre. More than 60 representatives from different non-oil businesses, especially from the furniture industry participated in this event.
Niyazi Safarov, Deputy Minister of Economy informed about the work done on the development of the non-oil sector and expanding local production in accordance with the presidential instructions. It was noted that the industry has entered a new stage of development in recent years as a result of the successful implementation of industrialization policy realized in our country, i.e., hundreds of new high-tech industrial enterprises started to operate, new competitive and export-oriented industries were created, the share of local products significantly raised, import dependence decreased and export potential increased accordingly. Important support mechanisms are applied by the state in order to increase the export potential of the non-oil sector. Order “On additional measures for promotion of investments” dated on January 18, 2016, and other decrees approved by the president has a great role in the development of the non-oil industry. All of these open up great opportunities for the expansion of local production.
Vilayet Valiyev, director of the Institute for Scientific Research on Economic Reforms highlighted the importance of scientific researches in the development of the economy, non-oil sector and increasing its export potential.
Local production possibilities of imported products were discussed in the event. It was stated that lots of components required for furniture production are imported from other countries. In order to decrease the number of imported components, local furniture manufacturers and industrial enterprises should have close cooperation with each other.
“Embawood” LLC, “Saloghlu” LLC, “Foriella” LLC and management staff of other industrial enterprises made proposals about local possibilities of furniture production.
The certificate was presented to “Foriella” LLC stating the official tenancy of Balakhani Eco-Industrial Park.
