BAKU, Azerbaijan, May 28. On May 28, President
of the Republic of Azerbaijan Ilham Aliyev attended the
inauguration of the “Garabagh Textile House” Limited Liability
Company (LLC) in the city of Khojaly, Trend reports.
Minister of Economy Mikayil Jabbarov and founder of “Garabagh
Textile House” LLC Rizvan Tahmazov informed the head of state about
the enterprise’s operations.
Equipped with Turkish and Chinese technologies, the enterprise
will produce 1.4 million textile items annually. In the initial
phase, it will manufacture various types and sizes of home textile
products, including bedding sets, bed and sofa covers, towels, and
other items. While raw material procurement will primarily rely on
the domestic market, supplies will also be imported from Türkiye,
Uzbekistan, and China. Alongside meeting domestic demand, the
enterprise’s products are also intended for export.
The facility has provided permanent employment for 85 people,
primarily citizens returning to the liberated territories and
residents of nearby districts. In addition, 40 residents of the
Khojaly and Aghdam districts will be involved in a two-month
professional training program organized with the support of the
State Employment Agency under the Ministry of Labour and Social
Protection of the Population. Participants who successfully
complete the program will be employed at the enterprise. In the
future, the number of jobs is expected to increase to 200, along
with the launch of garment manufacturing activities. It should also
be noted that 60 people are currently employed at the garment
factory of “Garabagh Textile House” LLC located in the city of
Khankendi.
The initial investment value of the enterprise is 4.2 million
manats. For its establishment, a concessional loan of 3.2 million
manats was allocated by the Azerbaijan Business Development Fund
under the Ministry of Economy, while 1 million manats was provided
as private investment. The enterprise will benefit from all
incentives and exemptions applicable to residents of the liberated
territories.
The launch of the enterprise will contribute to the development
of industry in the country, the expansion of local production and
export potential, and the reduction of import dependency, while
creating conditions for increasing employment in the liberated
territories. Overall, a favorable investment and business climate
has been created for entrepreneurs in the liberated territories,
supporting the expansion of economic activity and ensuring
sustainable development in the region. Extensive tax, customs, and
social incentives are applied to residents of the liberated
territories.
Will be updated
