President Ilham Aliyev participated in the opening of a work glove manufacturing plant operated by GP Safety LLC in Khankendi on May 28.
According to the Operative Information Center-OMM, Hikmat Asadov, the founder of GP Safety LLC, briefed the head of state on the facility's operations.
It was reported that the plant will produce four types of work gloves for various purposes, with an annual production capacity of 25 million pairs. The products are primarily intended to meet domestic market demand, with future plans to export to European markets. The facility, which represents an investment of 3.5 million manats, will create 35 jobs.
The project received state support, including a 1 million manat concessional loan from the Entrepreneurship Development Fund under the Ministry of Economy. Additionally, the company was granted a VAT exemption of 238,000 manats on imported machinery and equipment under an investment promotion certificate.
The establishment of this enterprise contributes to the development of light industry in Khankendi and plays a vital role in restoring the city's economic potential. Such industrial infrastructure projects are essential for creating local employment opportunities, satisfying domestic demand, and increasing export-oriented production. These initiatives are part of the Azerbaijani government's systematic and targeted efforts to restore the economic potential of the Garabagh region and organize the production of diverse goods.
