Japan discloses amount to be invested in Azerbaijan's tobacco industry

Business Materials 7 September 2020 20:17 (UTC +04:00)
Japan discloses amount to be invested in Azerbaijan's tobacco industry

BAKU, Azerbaijan, Sept. 7

By Fidan Babayeva – Trend:

Japan plans to invest $40 million in the Azerbaijani tobacco industry, Trend reports on Sept. 7 referring to the Azerbaijani National Confederation of Entrepreneurs (Employers’) Organizations.

According to the source, a meeting between the representatives of the National Confederation and Vice-President of Japan's “Tet International Development” company, Munechika Tanio, was held at the National Confederation.

Tanio said that the company brings together over 1,000 investors.

"The Japanese launched their activity in Azerbaijan last year and the initial investments were made in the tobacco industry,” vice-president added. “The Japanese intend to invest $40 million only in the tobacco industry."

At the same time, Tanio stressed that 100 Japanese investors are expected to visit Azerbaijan during the next month.

“During these visits, investors will travel to some districts of the country and receive the detailed information on the most profitable sectors for making investments,” the vice-president said.

A Japanese investor invested $2.2 million in a project in the Azerbaijani Oguz district. Currently, 150 people work in Oguz Agro Industry Ltd. permanently and more than 300 workers temporarily.


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