BAKU, Azerbaijan, January 25. ZF Group LLC is set to invest one million manat ($588,235) in establishing an adhesive tape production enterprise within the Araz Valley Economic Zone industrial park (East Zangezur economic district), said Azerbaijani Minister of Economy Mikayil Jabbarov in social networks, TurkicWorld reports.

"ZF Group" LLC has obtained residency in the "Araz Valley Economic Zone" Industrial Park. The company will specialize in the production of various adhesive tapes within the industrial park. This enterprise, with an investment volume of 1 million manat ($588,235), is expected to create permanent jobs for 32 individuals," the minister said.

The publication also says that so far, seven companies have received resident status in the Araz Valley Economic Zone industrial park.

On October 4, 2021, President of Azerbaijan Ilham Aliyev signed a decree on the establishment of the Araz Valley Economic Zone industrial park in Jabrayil district.

Spanning 200 hectares, the park is equipped with essential infrastructure and management systems to facilitate entrepreneurial activities. It is strategically organized to support logistics, competitive product manufacturing in various industrial sectors, recycling processes, and sales through the utilization of modern technologies.