Opening ceremony of the work gloves manufacturing facility in Khankendi

On May 28, President of the Republic of Azerbaijan Ilham Aliyev attended the opening ceremony of the GP Safety LLC work glove production facility in Khankendi. 

GP Safety LLC will produce four types of industrial safety gloves for various purposes. The facility, which is to employ 35 people, will have an annual production capacity of 25 million pairs of gloves. The manufactured products are intended primarily to meet domestic demand. In the future, they are also planned to be exported to the European market.

The total investment volume of the facility amounts to 3.5 million manats.  State support was also provided for the establishment of the facility. In particular, the Azerbaijan Business Development Fund under the Ministry of Economy allocated a concessional loan of 1 million manats. In addition, a VAT exemption amounting to 238,000 manats was applied to imported machinery and equipment on the basis of an investment promotion document.