The Ministry of Economy and Azerbaijan Coca-Cola Bottlers LLC have signed a Memorandum of Understanding for the construction of a new plant in Azerbaijan.
As it is known, COVID-19, as well as all over the world, also has faced new challenges in the national economy, and mandatory restrictions have led to a weakening of economic activity and financial losses for businesses.
To minimize the impact of the pandemic on the economy, revitalization of economic activity in the non-oil sector, protection of jobs, implementation of stimulant projects and measures, promotion of private investment, impetus measures in construction, employment and other areas are among the main goals.
Along with other measures to achieve these goals, a number of projects are being implemented with the support of the Ministry of Economy. One of such projects is the establishment of a new non-alcoholic beverage production facility of Azerbaijan Coca-Cola Bottlers LLC. Thus, as a result of the adoption programs on support Azerbaijan's investment climate, economic sustainability, as well as important documents covering, business support in the short and medium term, Azerbaijan Coca-Cola Bottlers LLC plans to expand its activities and create new production fields.
According to the plan, which envisages an investment of more than $ 30 million, Azerbaijan Coca-Cola Bottlers LLC will build a new production plant in one of the Ismayilli, Oguz or Gabala regions meeting international quality and safety standards.
The company plans to create about 100 new job places, which will further increase employment in the region.
It should be noted that Coca-Cola, which has been operating in Azerbaijan since 1996, is one of the largest foreign investors in the non-oil sector of the country. Azerbaijan Coca-Cola Bottlers LLC, which has more than 400 employees, has so far invested more than $ 200 million in the country's economy and paid more than 300 million manat in taxes to the state budget.