BAKU, Azerbaijan, April 8. Taube Electronics LLC has been granted resident status at the Araz Valley Economic Zone Industrial Park, managed by the Economic Zones Development Agency (EZDA) under the Ministry of Economy, EZDA spokesman Elchin Kazimli told Trend.
The company will launch the production of smart TVs in Azerbaijan for the first time. The project, with an investment of 3.5 million manat ($2 million), will create nearly 20 permanent jobs.
"The factory will use advanced Chinese technologies, and its annual production capacity is expected to reach 19,500 units of TVs. The production will include smart TVs in four different sizes: 32, 43, 50, and 55 inches," the statement said.
The industrial park, which spans an area of 200 hectares, currently hosts 17 resident businesses, and three entrepreneurs are registered as non-residents. Over 30 million manat ($17.6 million) has been invested in the park's development, creating nearly 100 permanent jobs.