The groundbreaking ceremony of the Sumgayit chemical industry park has been held. The ceremony was attended by President of the Republic of Azerbaijan Ilham Aliyev.

One of the main directions of the large-scale industrialization strategy carried out in the country is the creation of industrial centers. Industrial parks will give an impetus to the rapid growth of highly competitive industries. An important role in this respect is to be played by the Sumgayit chemical industry park covering an area of 168 hectares and possessing the necessary infrastructure and management facilities. It will be built in the industrial part of the city of Sumgayit in order to manufacture competitive products and provide services through the application of modern technology.

Minister of Economic Development Shahin Mustafayev informed the President that the industrial park would be established in line with the advanced international experience, create a modern infrastructure for the functioning of industrial sites, strengthen the ties among production, science and education, create a favorable investment environment, and accommodate buildings and structures meeting the advanced architectural and engineering solutions.

It was noted that the Sumgayit chemical industry park would be divided into two parts – administrative-social and industrial. The administrative-social section of the park will include 16- and 20-storey office buildings, a vocational center, seven training workshops, an exhibition and conference complex, a two-building hotel and dormitory complex, a laboratory and research center, indoor and outdoor sports facilities, a kindergarten and other social facilities.

Forty-three industrial components of the park will accommodate about 35-40 enterprises.

It is expected that about 7,000 permanent jobs will be created in the park. The industrial zone will be divided into subsections on polymeric chemistry, construction chemistry, automotive chemistry, agricultural chemistry, household chemicals and medicinal chemistry. In order to enhance the investment attractiveness of the Sumgayit chemical industry park, its residents will have a 7-year exemption from income, land and property taxes. In addition, the imported equipment and technologies will be exempt from the value added tax.

It was brought to the President’s attention that the Sumgayt chemical industry park uses a "one window" system. It has already registered two residents – “SOCAR-Polymer” and "Azertehnoline" Limited Liability Companies.

President Ilham Aliyev laid the foundation of the Sumgayit chemical industry park. Then the President met with construction workers.

President Ilham Aliyev said:

- It is a very significant day in the history of Sumgayit today. A new era of the industrial development of Sumgayit is beginning. We have laid the foundation of the Sumgayit chemical industry park. I am sure that a large industrial estate will be established here in a short period of time.

Sumgayit is a modern industrial city now. It is already home to dozens of new and modern enterprises. The establishment of a chemical industry park will give a great impetus to the development of Sumgayit. Thousands, maybe even tens of thousands of new jobs and dozens of new enterprises will be created here.

All enterprises will be built to high standards. The highest environmental standards will be applied. This area of about 200 hectares was an environmental disaster zone. Environmental regulations were not complied with. Cleaning of this territory is tantamount to heroism. But we have cleaned it. From an environmental point of view, this is an absolutely clean territory now. Dozens of companies will be created here, which will contribute to Sumgayit and Azerbaijan being industrial centers in the future. This will ensure non-oil sector development of the country.

It is a historic day today. Azerbaijan is developing its industrial potential, and our policy of industrialization continues successfully. The development of the non-oil industry is a priority. In the first nine months of this year, our non-oil sector grew by more than 10 per cent.

The emergence of a chemical industry park will herald a new stage of industrial development. These enterprises, the creation and development of the Sumgayit chemical industry estate will strengthen our country. New jobs and enterprises meeting the highest standards will be put in place here. The most sophisticated equipment will be installed and exportable products will be manufactured. The volume of investments to be made here is measured in billions. This will include public investment, because the State Oil Company is already implementing its first investment projects here. At the same time, the private sector will invest a lot. We are inviting all investors, both local and foreign, here.

Today, on this historic day, I want to appeal to investors once again: Azerbaijan has a great investment climate.

Investments are protected by the state. Azerbaijan has an ever-expanding domestic market. At the same time, the products to be manufactured here will be fit for export. Special privileges and tax breaks will be applied here. The companies investing here will be provided with excellent facilities. Those who want to invest a lot will enjoy great benefits.

I am confident that this project has a bright future. All the projects implemented on our initiative so far have been a success. There is not a single initiative that has not been realized. All our initiatives lead up to development.

I want to say again that this day will go down in history. This day marks the start of a new industrial development of Sumgayit. This is a day when Sumgayit begins to be transformed into a large and modern industrial city. I am sure that we will participate in the opening ceremonies of all the enterprises that will be created here in the future.

I believe that this area of about 200 hectares will not be enough for us in the future because this place will attract both local and foreign investors. They will see how great the effect of this investment is. Thus, Sumgayit will become an even larger industrial city in the future.

I congratulate you, the people of Sumgayit and all the people of Azerbaijan on this historic day. I am very pleased that this initiative is also becoming a reality. I am very glad that today, as I said, we are beginning a new period of industrial development. Congratulations again! I wish you every success!