Azerbaijani enterprises intend to produce baby food

Business Materials 3 April 2010 13:37 (UTC +04:00)

Azerbaijan, Baku, Apr. 3 / Trend N.Ismayilova / 

The National Fund for Entrepreneurship Support (NFES) under the Azerbaijani Economic Development Ministry received three investment projects from the business entities to produce baby food under the state program to ensure reliability of population with food for 2008-2015, NFES Executive Director Shirzad Abdullayev said.  

"All the proposals received from entrepreneurs of the Absheron region and the projects' cost varies from 2 to 10 million manat," he said.  The fund's share in financing of the projects may be from 1 to 7 million manat.

The NFES will launch the initial monitoring of these projects, the study of existing infrastructure in enterprises and potential of employers next week, he added. To date, the country mainly has imported baby food and such projects will contribute to the development of this type of production within the country.

The investment competition requires the followings: the investment project should include the production of various types of baby food, the area chosen for the construction of production facility must possess beneficial infrastructure, the plant must have the technology that meets modern requirements and standards, manufacturing process must ensure the quality indicators and the enterprise should have a modern laboratory. The investment project must be implemented in the optimum time. The ongoing activities, including construction and installation work, connection to telecommunication lines, must be consistent with the certain governmental structures. At least 30 percent of the investment project should be financed by own funds of the commercial entities.

The Azerbaijan Investment Company or its subsidiaries also may finance the investment projects on the basis of agreement between the parties.

Winner of the investment competition will be announced at 12:00Apr.15, 2010.

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