“A new stage in the development of Mingachevir begins from today. The work to be done in this industrial park will enhance our overall economic potential,” said President Ilham Aliyev at the ceremony of laying the foundation of the Mingachevir industrial park.

The Head of State noted that nine factories will operate in the Park: “The number of workers in these factories will reach 5-6 thousand people. The volume of work that will be done in the industrial park is at the level of 150-200 million dollars. That is a very large investment project. I am confident that with the implementation of this project new initiatives will be done. The project will make great contribution to the development of the city, creation of jobs, development of agriculture and industrial potential as a whole. Henceforth Mingachevir will also be a center of light industry, and perhaps the first of them, not only in Azerbaijan but also in the South Caucasus.”

President Ilham Aliyev stressed that the company, which will operate in the industrial park, are export-oriented, "This is of the major challenges facing us. The work pursued in recent years aims to increase non-oil potential of Azerbaijan and export-oriented production. Cotton yarn, wool yarn, leather, acrylic yarn, which will be produced in these enterprises are export-oriented. In particular, there is no need to search market for the products that will be produced at the enterprises of cotton and woolen yarn since these products are sold on the world markets. The advantage of this industrial park is that it will bring to our country foreign currency in large amounts. Another advantage of this industrial park is that most businesses operating here will use local raw materials. "