Deputy Minister: Thousands of jobs planned in Mingachevir Industrial Park

Thousands of new jobs will be created in Mingachevir Industrial Park in Azerbaijan through new textile industry projects, Azerbaijani Deputy Minister of Economy Samad Bashirli said, Report informs.

Speaking at a meeting on cotton development in Sabirabad, Bashirli highlighted the achievements of Mingachevir Textile, established with $93 million in investment. The enterprise produces up to 20,000 tons of yarn annually and has already created about 600 jobs.

He noted that under the Textile Horizon project, worth 150 million manats, production of yarn, fabrics, and finished textile products is planned, along with the creation of more than 2,000 new jobs.

Bashirli emphasized that developing a full production chain – from cotton fiber to finished products – will at least double Azerbaijan's current textile exports, which stand at around $203 million. To support these projects, the government is expanding mechanisms of preferential financing and subsidies.