On December 26, 2014, the President of the Republic of Azerbaijan approved the State Program for Industrial Development for the period 2015-2020.
Main goals of the State Program with potential impact for international trade flows:
- Modernisation of the industry and improvement of its structure;
- Increase of export potential of non-oil-related industries;
- Expansion of a competitive industrial production with efficient use of energy;
- Expansion of science-intense and innovative production.
Activities planned to be implemented within the 2015-2020 time frame with potential impact for international trade flows:
- Preparation ofproposals for promotion of industrial competitiveness and new production capacities, as well as establishment of new enterprises based on local raw materials and natural resources;
- Reconstruction of industrial enterprises and support for the establishment of new industrial processing;
- Preparation of relevant proposals in relation to the encouraged use of environment-friendly technologies;
- Accelerated restructuring and privatisation of industrial enterprises;
- Expansion of the production of agricultural land vehicles, machines, technologies and equipment;
- Expansion of the production of alternative energy technology and equipment;
- Segregation and transportation of waste, as well as construction and commissioning of the related processing facilities;
- Completion of Sumgayit Chemical Industrial Park's infrastructure and improvement of its operations;
- Completion of Balakhani Industrial Park's infrastructure and improvement of its operations;
- Establishment of High Technology Park's infrastructure;
- Establishment of Ganja Industrial Park and development of its infrastructure;
- Establishment of Mingechavir Industrial Park and development of its infrastructure;
- Preparation of proposals for the creation of industrial clusters;
- Implementation of appropriate measures for establishment of industrial districts.
The financing of the the State Program will be performed from the following sources:
- State budget;
- Extra budgetary funds;
- Funds of the National Fund for Entrepreneurship Support;
- Funds of the Azerbaijan Investment Company;
- Local budgets;
- Local private investments and foreign direct investments;
- Loans and grants;
- Financial and technical assistance of international organisations;
- Other sources not prohibited by law.