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A production enterprise for test kits and medical plastic packaging products will be established 03.07.26

A SME Cluster Certificate has been issued to "Healthtech Solutions KOB Klaster Şirkəti".

The third SME Cluster Company in the country – "Healthtech Solutions KOB Klaster Şirkəti" LLC – has been established. A meeting was held between the Small and Medium Business Development Agency (KOBİA) and the company at the Baku SME House, during which a SME Cluster Certificate, providing for tax incentives, was presented to the company.

The enterprise, which will operate in the city of Baku, will produce test kits used in laboratories and medical plastic packaging products. It is envisaged that a total of AZN 8 million will be invested in the project, including AZN 5 million at the initial stage. It is planned that the enterprise will provide permanent employment for about 10 people at the initial stage and for 50 people in the medium term.

11 SME entities already are participants of the SME Cluster Company. These companies will provide the SME Cluster Company with services in the areas of raw material supply, logistics, equipment repair, construction and installation works, IT, design and other fields, which will ensure the continuity of the production process and its efficient management.

In accordance with the legislation, the SME Cluster Company and its participants, from the date of their inclusion in the register, for a period of 7 years, will benefit from broad state support and tax incentives by being exempt from profit tax, land tax and property tax, as well as from VAT on the import of technological equipment.

The activity of the enterprise will contribute to the development of local production of laboratory and medical consumables, import substitution in this field and the increase of export potential.

It should be noted that KOBİA is the authorised body issuing "SME Cluster Company" and "SME Cluster Participant" certificates. To date, SME Cluster Certificates have been issued by the Agency for two companies.