BAKU, Azerbaijan, July 6. The joint
Azerbaijani-Uzbek stitching enterprise Businesstex JV presently
produces round 150 sorts of males’s clothes, 300 sorts of ladies’s
clothes, and 150 sorts of youngsters’s clothes utilizing varied
materials, Pattern stories.
The corporate plans to broaden its product vary to incorporate males’s
shirts in addition to particular and navy attire sooner or later.
At current, the manufacturing unit produces roughly 2,500 models of
knitwear per day, with plans to ramp up manufacturing to 10,000 models
every day. Notably, 80 % of its merchandise are meant for export
to varied worldwide markets.
The manufacturing unit presently employs 250 individuals, all of whom acquired
skilled coaching on the preliminary stage of the venture. The
workforce is predicted to double to 500 as operations broaden.
Precedence for employment is given to residents returning to the
liberated territories and residents of close by areas.
The preliminary funding within the venture amounted to 6 million
manats, with uncooked supplies sourced by way of joint manufacturing
cooperation agreements. The manufacturing unit makes use of regionally sourced in addition to
Turkish, Uzbek, and Chinese language uncooked supplies. To ascertain the
enterprise, the Azerbaijan Enterprise Growth Fund underneath the
Ministry of Financial system allotted a preferential mortgage of three.5 million
manats. Moreover, the venture benefitted from VAT and customs
responsibility exemptions amounting to roughly 640,000 manats.
The enterprise is predicted to make a major contribution to
rising non-oil exports from the area.
The development of the garment manufacturing unit in Khankendi was carried
out on the directions of the Presidents of Azerbaijan and
Uzbekistan to deepen financial and funding cooperation between
the 2 nations. This joint Azerbaijani-Uzbek venture not solely
creates new alternatives for the event of Azerbaijan’s mild
trade but in addition serves as a logo of the sturdy and enduring
friendship and financial partnership between Azerbaijan and
Uzbekistan.
