The Opening of Auto Leasing Azerbaijan LLC at Araz Valley Economic Zone Industrial Park: President Ilham Aliyev and Rais Minnikhanov in Attendance
Title: Azerbaijan and Tatarstan Open Auto Leasing Facility in Jabrayil District
Date: June 17, 2022
President Ilham Aliyev of Azerbaijan and Republic of Tatarstan’s Rais Rustam Minnikhanov attended the inauguration of Auto Leasing Azerbaijan LLC in the “Araz Valley Economic Zone” Industrial Park, located in the Jabrayil district. The visit by Rais Rustam Minnikhanov signifies the strengthening of bilateral relations between Azerbaijan and the Russian Federation.
During the event, Minister of Economy Mikayil Jabbarov provided an overview of the progress achieved in the area. Situated across 200 hectares, the Industrial Park is set to become a crucial economic hub in the region.
President Aliyev and Rais Minnikhanov jointly inaugurated Auto Leasing Azerbaijan LLC by cutting the ceremonial ribbon. This joint venture, established by Azerbaijan and Russia, has developed a technical service center spanning three hectares within the “Araz Valley Economic Zone” Industrial Park. The center will primarily cater to the maintenance and repair needs of trucks and agricultural machinery, serving as a key hub in the transportation sector.
Investment in the construction of Auto Leasing Azerbaijan LLC amounts to a total of AZN 10.2 million, with more than AZN 9.4 million already invested in the facility. These significant investments demonstrate the commitment of both countries to foster economic growth and cooperation.
The establishment of this new facility not only enhances the economic ties between Azerbaijan and Russia but also opens doors for future collaborations and investment opportunities in the region. The creation of such joint ventures serves as a testament to the strong bilateral relations and mutually beneficial partnerships between the two nations.
As the ceremony concluded, President Aliyev, Rais Minnikhanov, and other dignitaries expressed confidence in the success and positive impact that Auto Leasing Azerbaijan LLC will have on the regional economy. This milestone achievement is poised to contribute to the growth of the transportation sector and bring further prosperity to the Jabrayil district and surrounding regions.
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