BAKU, Azerbaijan, October 30. A new enterprise has been commissioned in the Hajigabul Industrial Estate (District), which is under the jurisdiction of the Economic Zones Development Agency under Azerbaijan's Economy Ministry, Trend reports.
“The Azerbaijani-Uzbek joint venture "Azermash" CP LLC has acquired residency in the Hajigabul Industrial Estate, bringing the total number of residents to 14," Minister of Economy Mikayil Jabbarov wrote on his page on X.
He stated that the corporation plans to invest 104 million manat ($61.18 million) in the industrial park to build a passenger automobile manufacturing complex that will employ 1,200 people.
The Hajigabul Industrial District was established by the Decree of the President of the Republic of Azerbaijan No. 3127 dated July 25, 2017 "On the establishment of the Hajigabul Industrial District" with the aim of supporting the activity of micro, small and medium entrepreneurs operating in the industrial field, ensuring sustainable development of the non-oil sector, and increasing employment of the population in the field of production.
From January through September this year, products worth 51 million manat ($30 million) were manufactured in the district, which is 97 percent more (25.8 million manat or $15.18 million) compared to the same period in 2022.