Turkish company to invest $1M in chocolate production in Azerbaijan

Turkish company RYS will build a chocolate factory in Azerbaijan, said Jamid Movsumov, Chairman of the Board of the Azerbaijan Franchise Association, Report informs.

According to him, the initial investment is planned at $1 million: “After all the costs are calculated, the investment amount will be specified. The area of the factory will be 1,000 square meters. It will be a chocolate production enterprise with Turkish capital. The owner of the factory earlier visited Azerbaijan, held meetings and reached an agreement. It is planned to open the factory as soon as possible.”

Movsumov said the Association is also negotiating with a Hungarian organization: “It is planned to build a car manufacturing enterprise worth $12.5 million in Azerbaijan. Discussions are at an early stage. But the processes are going in a very positive direction. Discussions may continue until the second quarter of next year. Because the investment amount is huge.

The Azerbaijani side should also be interested in opening this factory. We are planning a visit of the factory owner to Azerbaijan for the first quarter of next year. If this happens, the processes will be faster at the next stage.”