Japanese Firm to Invest in Azerbaijan

Photo: Taco Tuinstra

A Japanese company plans to invest $40 million in tobacco growing in Azerbaijan, reports AzerNews.

The initiative was discussed during a meeting between the vice president of the National Confederation of Entrepreneurs of Azerbaijan, Vugar Zeynalov, and the vice president of the Japan International Development Co. (JIDC), Munechika Tanio.

JIDC comprises more than 1,000 investors and has been working in Azerbaijan since last year.

Tanio stressed that an initial investment has been made in tobacco, and a tobacco drying station has been built in the Oguz region of Azerbaijan. In addition, funds are being invested for this purpose in Tovuz region.

About 100 Japanese investors are expected to visit Azerbaijan in October to gather detailed information in various areas during their visit to region.