16:29 - 15.07.2025

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July 15, Fineko/abc.az. In accordance with the Presidential Decree "On certain measures to accelerate the privatization of state property and improve the efficiency of property management" and his instructions in this direction, the restructuring of privatized enterprises, equipping them with modern technologies and equipment, and creating new jobs are being carried out. One of these enterprises is Baku Shoe Factory OJSC, which was privatized in 2022 through an investment tender conducted by the State Service for Property Issues (under the Ministry of Economy).

ABC.AZ informs that the winner of the announced investment competition for privatization, Pepi-Kəndli Təsərrüfatı LLC, fulfilled its obligations, transferred 3.5 million manats to the State Budget, and invested 5.7 million manats in the enterprise.

Within the investment program, the company has overhauled and installed new production equipment, as well as purchased raw materials used for shoe production. Cooperation has been established with Turkish company ESSE, specializing in the manufacture of shoes, and foreign specialists have been involved. Restructuring of the enterprise, increasing the volume and quality of products will expand export opportunities. The company has created more than 100 jobs.