He made the remarks following the ceremony of laying the foundation of a pharmaceutical enterprise in Pirallahi Industrial Park.

"Pirallahi Industrial Park is mainly designed for pharmaceutical companies. The park consists of two parts: one is 20 hectares and the other is 10 hectares. After the foundation of today's enterprise was laid, there are no places left in the first part. The industrial park is fully provided with infrastructure. There are six residents in the park now, investments exceed 115 million manat (67.6 million USD)," he noted.

According to him, the aim of local enterprises is to expand production, build close cooperation with the Faculty of Pharmacy, as well as export the products produced here along with providing the domestic market.

"That is, a certain part of the manufactured products will be directed to the domestic market and the rest for export," he added.

"Gen Pharma Caucasus Manufacturing Operations" received the status of a resident of Pirallahi Industrial Park. Thus, the number of residents of the industrial park has reached six.

On the territory of the industrial complex with the area of 7.8 hectares the company will produce high quality medicines in 42 names and various forms (pills, capsules, gelatin capsules, powder suspension, syrup, etc.) and dosage.

The enterprise with an investment cost of 59.3 million manat (34.8 million USD) will employ 165 people. The enterprise with annual production capacity of 50 million packages will be built within the framework of trilateral cooperation between "Azerbaijan Investment Company", "Gen İlaç ve Sağlık Ürünleri Sanayi ve Ticaret A.Ş." and "Sia Pharmaceuticals" (Türkiye).

"We emphasized the successful partnership between the UN and our country across several fields during our discussion with Muhammad Nasar Hayat, the UN Food and Agriculture Organization's representative in Azerbaijan. Furthermore, we investigated prospective partnership arrangements between FAO and Azerbaijan, with an emphasis on maintaining food security and implementing new agricultural practices," he said.

Azerbaijan has been a member of FAO since October 20, 1995, and an office of the organization has been functioning in the country since autumn 2015.

This issue was reflected in an amendment to the Tax Code, which was discussed today at a meeting of Azerbaijan's Milli Majlis (Parliament).

According to the draft, except for the cities of Baku, Sumgayit, Khirdalan and Absheron district, in other cities and districts of Azerbaijan the tax on immovable property used in hotel and sanatorium activities (except for cases of temporary cessation of entrepreneurial activity in accordance with Article 16.3 of the Tax Code) shall be reduced by 75 percent for a three-year period from January 1, 2024.

After discussion, the amendment was put to a vote and approved in the third reading.

The data of the State Statistics Committee of Azerbaijan shows that passenger transportation by sea transport amounted to 20,100 people from January through October 2023, which is 13.6 percent more year-on-year.

Cargo transshipment by seaports in Azerbaijan amounted to over 11.1 million tons from January through October 2023. Of these, 82.6 percent, or 9.2 million tons, was the share of transit cargo.

Oil accounted for 55.6 percent of Azerbaijan's maritime export cargo transportation.

The volume of cargo in the ports of Azerbaijan amounted to 366,700 tons on November 1.

Cargo transportation by all types of transport in Azerbaijan amounted to 186.2 million tons from January through October 2023, which is 5.4 percent higher year-on-year. Passenger transportation in Azerbaijan exceeded 1.5 billion people from January through October 2023, which is 17.8 percent higher year-on-year.

The cost of participation in the tender is 100 manat (58 USD).

The potential bidders are required to submit their bids until 09:00 (GMT+4) on December 18, 2023. Opening of the tender packages will take place on December 18, 2023 at 10:00 (GMT+4).

Additional information: Phone: (+99451) 687-16-51; Contact: Kamala Karimova (kamakerimli275@gmail.com); Address: 1 Islam Safarli Street, Nakhchivan.