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.
