BAKU, Azerbaijan, May 29. A work gloves
manufacturing enterprise has commenced operations in the
Azerbaijani city of Khankendi, Trend's Karabakh bureau reports.
The facility, owned by "GP Safety" LLC, will produce four types
of work gloves for various purposes.
The annual production capacity of the enterprise is reported to
be 25 million pairs of gloves. In the initial phase, the products
will be directed toward meeting the demands of the domestic market.
In the future, exporting the manufactured goods to the European
market is planned.
35 people will be provided with permanent employment at the
enterprise. A total of 3.5 million manat ($2.05 million) has been
invested in the project. Within the framework of state support, a
concessional loan of 1 million manat was allocated for the creation
of the facility.
Furthermore, based on an investment promotion document, a VAT
exemption amounting to 238,000 manat ($140,000) was applied to the
imported machinery and equipment.
The launch of the enterprise will contribute to the development
of the light industry sector in Khankendi, the creation of new
jobs, and the strengthening of the region's economic potential.
