A workshop held at Sumgait Industrial Park brought together the World Economic Forum’s Transitioning Industrial Clusters initiative, Azerbaijan’s Economic Zones Development Agency and the Center for Analysis and Coordination of the Fourth Industrial Revolution to discuss the development of the “NextGen” Industrial Cluster and opportunities for collaboration on decarbonization, innovation and sustainable industrial growth.

The Center for Analysis and Coordination of the Fourth Industrial Revolution (C4IR Azerbaijan), the Economic Zones Development Agency under the Ministry of Economy, and the the World Economic Forum held a workshop on the Forum’s Transitioning Industrial Clusters initiative for resident companies of Sumgait Industrial Park.

The workshop focused on the objectives of the NextGen Industrial Cluster, established as part of the World Economic Forum’s Transitioning Industrial Clusters initiative. It aimed to raise awareness among cluster participants and strengthen cooperation between industrial enterprises on decarbonization, innovation and sustainable development.

Azerbaijan joined the World Economic Forum’s Transitioning Industrial Clusters initiative in January this year at the Annual Meeting in Davos. As part of this work, the NextGen Industrial Cluster was formed in Sumgait Industrial Park under the coordination of C4IR Azerbaijan, in cooperation with the Economic Zones Development Agency, SOCAR Polymer and SOCAR Carbamide.

During the workshop, Jörgen Sandström, Head of the World Economic Forum’s Transitioning Industrial Clusters initiative, together with Forum experts, delivered presentations on the benefits of the initiative, global experience and the cluster governance model.

The event also featured a presentation of the key performance indicators of the NextGen Industrial Cluster. Participants discussed the cluster’s governance structure, future development priorities and potential partnership opportunities. Representatives of SOCAR, as well as more than 10 resident companies of Sumgait Industrial Park, took part in the workshop.

As part of the visit, the World Economic Forum delegation was introduced to the infrastructure and production capabilities of Sumgait Industrial Park, as well as the operations of SOCAR Carbamide and SOCAR Polymer.

The World Economic Forum’s Transitioning Industrial Clusters initiative supports coordinated action among geographically connected and value-chain-linked companies to accelerate decarbonization, the adoption of digital technologies and the transition to sustainable production models. Globally, the 39 clusters participating in the initiative have the potential to help reduce 870 million tonnes of CO₂ equivalent, contribute $808 billion to GDP and support 6.6 million jobs, highlighting the initiative’s strategic importance.

The NextGen Industrial Cluster established in Sumgait Industrial Park is considered an important step in Azerbaijan’s industrial transformation, transition to a green economy and expansion of international partnerships.

Sumgait Industrial Park, the largest industrial park in the South Caucasus, covers approximately 640 hectares and brings together resident companies operating in sectors including chemicals, polymers, metallurgy, machinery and construction materials. SOCAR Polymer and SOCAR Carbamide are among the park’s key residents. To date, nearly 5.7 billion Azerbaijani manats have been invested in the park, and more than 6,000 jobs have been created.