BAKU, Azerbaijan, March 1. Bosco Shoes LLC has been granted resident status in Azerbaijan's Araz Valley Economic Zone industrial park, Trend reports.
According to the Economic Zones Development Agency under the Ministry of Economy of Azerbaijan, the new resident will establish shoe production plant in the park.
The agency noted that the company plans to create permanent jobs for 72 people with an investment cost of 3.5 million manat ($2 million).
In addition to selling the plant products to the domestic market, it's also planned to export them.
To note, the Araz Valley Economic Zone was established by Decree No. 1453 dated October 4, 2021 of the President of the Republic of Azerbaijan in liberated Jabrayil district.
Its investment volume amounts to $19.2 million.
The goal of industrial park's establishment include revival of liberated territories, development of industrial potential of Karabakh, and others.
To date, over 10 companies, including Matanat and ZF Group LLCs, Holcim (Azerbaijan) OJSC and others, have become residents of the park.
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