BAKU, Azerbaijan, April 26. Azerbaijan plans to localize production of Hungarian Ikarus buses on its territories, liberated from Armenian occupation, the Economic Zones Development Agency of Azerbaijan told Trend.
The creation of a service center for these buses is also planned.
In this regard, a corresponding Memorandum of Understanding was signed by Ruslan Aghabayli, CEO of Sumgait Technologies Park and Zoltán Tanko, CEO of Ikarus bus manufacturing company.
"According to the document, the parties will cooperate in a number of areas, in particular, the production of Ikarus buses in Azerbaijan, an increase in production capacity from 100 to 500 buses per year," the agency said.
Meanwhile, Azerbaijan is working to attract entrepreneurs to invest in reconstruction and construction on the liberated lands.
Master plans for a number of districts and cities have already been approved, and work on the creation of basic infrastructure continues at full speed.
Azerbaijani Economy Ministe Mikayil Jabbarov said previously that favorable conditions for entrepreneurs have been created in the industrial parks of Agdam and the Economic Zone of the Araz Valley. These measures will serve to attract investment and develop entrepreneurship on the liberated lands.
