New furniture factory opens in Azerbaijan

Favorable business and investment climate in Azerbaijan, along with other sectors, create ample opportunities for the development of the furniture industry, new furniture manufacturing enterprises are opening, Trend reports with reference to the Azerbaijani Ministry of Economy.

“One of such enterprises is the furniture factory of Saloglu private firm in Gazakh district,” the ministry said. “Some 400 new jobs will be created at the factory, which will produce 30,000 sets of furniture per year.”

The Ministry of Economy issued a document on encouraging investments to the factory with a total investment value of 76.1 million manat ($44.8 million).

Moreover, the Entrepreneurship Development Fund provided the factory with a preferential loan in the amount of 10 million manat ($5.9 million).

The furniture factory is planned to be commissioned in the first quarter of this year.