Azeri industrial production grew 1.8% last year

In 2013, Azerbaijan's industrial production grew by 1.8%. This year has been declared the "Year of the industry ."

According to the State Statistics Committee, last year the volume of industrial production was 33.7 billion manat, of which three quarters accounted for the mining sector . In the oil sector, industrial production increased by 1.1 %, non-oil sector - 4.8%.

The state , represented by SOCAR and its structures (Azerikimya, Azeriqaz), Azerenergy, Azeneftkimyamash, Azersu, etc. , controls about 20 % of industrial production . Government initiated the creation of three industrial and technological parks in Sumgait and Baku Balakhany since 2011. Last year in Sumgait Chemical Industrial Park appeared the first companies that are exempt from taxes for a period of 7 years.

In 2013, were commissioned the Shipyard and Industrial Association " Ship repair and shipbuilding " in Baku, two cement plants in Baku and the Gazakh region, and other industries .

The great potential of metallurgical industry is controlled by LLC Baku Steel Company. In April last year by order of the head of state the state-owned JSC Azerbaijan Steel Complex was created. This complex will include several companies from the mining of iron ore in the area Dashkesan to steel production in Ganja . How things are going in this direction is not yet known, but Baku Steel Company has already stated that it has embarked on an investment of Ganja metallurgical enterprises. It seems that inflames competition in metallurgy, which Baku Steel Company tried to prevent in the domestic market,  but this time the competition will be between the state and the private sector.

According to experts, the growth of oil revenues and reducing control over public funds in Azerbaijan formed oligarch capital that flowed to the economy, including industry. Today, large cash flow in the industrial sector is controlled by bureaucratic bourgeoisie.

ANN.Az