The "Karabakh Textile House" LLC has been commissioned in the city of Khojaly

President of the Republic of Azerbaijan Ilham Aliyev on May 28 participated in the opening of the "Karabakh Textile House" Limited Liability Company (LLC) in the city of Khojaly.

As reported by BAKU.WS, Minister of Economy Mikayil Jabbarov and the founder of "Karabakh Textile House" LLC Rizvan Tahmazov informed the head of state about the enterprise's activities.

It was noted that the enterprise, equipped with Turkish and Chinese technological equipment, will produce 1.4 million units of textile products per year. At the initial stage, the enterprise plans to manufacture various types and sizes of home textiles, including bed linen, bedspreads for beds and sofas, towels, and other products. Raw materials for production will be sourced primarily from the domestic market, as well as imported from Turkey, Uzbekistan, and China. The enterprise's products, along with meeting domestic market needs, will also be exported.

The enterprise has provided permanent employment for 85 people. These are mainly citizens who have returned to the territories liberated from occupation and residents of nearby districts. In addition, 40 residents of the Khojaly and Aghdam districts will be enrolled in a 2-month professional training program organized with the support of the State Employment Agency under the Ministry of Labor and Social Protection of the Population. Participants who successfully complete the training program will be provided with jobs at the enterprise. In the future, it is planned to increase the number of jobs to 200 and additionally organize clothing production. It should be noted that 60 people currently work at the sewing factory of "Karabakh Textile House" LLC located in the city of Khankendi.

The initial investment cost of the production enterprise is 4.2 million manats. For its establishment, the Azerbaijan Business Development Fund under the Ministry of Economy allocated a preferential loan of 3.2 million manats, while 1 million manats was contributed as private investment. The enterprise will benefit from all incentives and exemptions provided for residents of the territories liberated from occupation.

The launch of the enterprise will contribute to the development of industry in our country, the expansion of local production and export potential, the reduction of import dependency, and will also create conditions for increasing employment in the territories liberated from occupation. Overall, a favorable investment and business environment has been created for entrepreneurs in the territories liberated from occupation, which serves to expand economic activity and ensure sustainable development in the region. Extensive tax, customs, and social benefits are applied for residents of the territories liberated from occupation.

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