The opening of a work gloves manufacturing enterprise took place in Khankendi

President of the Republic of Azerbaijan Ilham Aliyev on May 28 participated in the opening of the GP Safety LLC work gloves manufacturing enterprise in Khankendi.

As reported by BAKU.WS, the founder of GP Safety LLC Hikmet Asadov informed the head of state about the enterprise's operations.

It was noted that 4 types of work gloves for various purposes will be produced here. The annual production capacity of the enterprise is 25 million pairs of gloves. The products are intended to meet the needs of the domestic market. In the future, their export to the European market is also planned. 35 people will be provided with employment here. The volume of investment in the enterprise amounts to 3.5 million manats. State support was also provided in its establishment. Specifically, a preferential loan of 1 million manats was allocated by the Azerbaijan Business Development Fund under the Ministry of Economy. In addition, based on the investment incentive document, a VAT exemption of 238,000 manats was applied to imported machinery and equipment.

It should be noted that the establishment of this enterprise, along with contributing to the development of light industry in Khankendi, will also play a role in restoring the economic potential of the city. The creation of such industrial infrastructure makes it possible to ensure employment of the local population and serves both to meet the needs of the domestic market and to increase the volume of export-oriented production. All these efforts are part of the consistent and purposeful steps taken by the Azerbaijani state to restore and strengthen the economic potential of Karabakh and organize the production of various types of products.

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