President of the Republic of Azerbaijan Ilham Aliyev attended the opening of the paper and hygienic products manufacturing enterprise of “Fabriora Group” Limited Liability Company (LLC) in the Garadagh district of the capital on September 10.
“Elchi” reports that Minister of Economy Mikayil Jabbarov and founder of “Fabriora Group” LLC Ibrahim Uygur informed the head of state about the enterprise’s activities.
It was noted that the enterprise will produce paper and hygienic products, including baby diapers, various napkins, and detergents, using both local raw materials and materials imported from foreign countries. Modern and highly automated production technologies from Germany, Italy, and Turkey will be applied at the enterprise, which is located on an area of nearly eleven hectares.
In addition to the domestic market, the products will be exported to Georgia, Kazakhstan, Russia, Middle Eastern countries, and other states. It is planned to provide 240 people with permanent jobs here.
The enterprise was privatized through an investment competition organized by the State Service on Property Issues under the Ministry of Economy. The total investment value of the project is 27 million manats.
“Fabriora Group” LLC received a concession worth 1 million manats in VAT and customs duties during the import of equipment based on an investment promotion document.
It should be noted that one of the important directions of the economic policy implemented in Azerbaijan under the leadership of President Ilham Aliyev is the strengthening of industrial potential and the expansion of competitive production. One of the results of the industrialization process is the formation of more sustainable production and supply chains in the country. The expansion of local production allows for both meeting domestic demand and reducing dependence on imports, as well as increasing the access of Azerbaijani products to foreign markets.