By Rashid Shirinov
Azerbaijan’s State Committee on Property Issues will hold another auction for the privatization of state objects and enterprises on February 7, the Committee said on January 9.
The auction will feature 95 state objects, including 20 joint stock companies, 62 small enterprises and facilities, and 13 non-residential areas.
The objects to be put up for the auction are located both in Baku and in regions of the country. Their activities cover the areas of repair, industry, food, agriculture, transport, construction, production, etc.
The most expensive objects and enterprises of the auction are the cafe "Araz" in the Khatai district of Baku ($66,500) and a store in Binagadi district ($55,600).
The third stage of privatization in Azerbaijan started in the framework of the presidential decree dated May 19, 2016. Under the decree, the acceleration of the state property privatization process has been defined as an important direction of the economic policy.
The portal for privatization – privatization.az, launched in July 2016, reflects all necessary information about the facilities, their addresses, location, and even initial cost and aims at facilitation of the process. The website is available in two languages - Azerbaijani and English. “Why Azerbaijan is special” section available on the website explains the reasons and advantages of investing in the country.
The privatization process is designed to attract both foreign and local investors, as well as improve the business environment of Azerbaijan.