More state objects to be put up for privatization

By Azernews

By Rashid Shirinov

Azerbaijan’s State Committee on Property Issues will hold another auction for privatization of state objects and enterprises on February 14.

The auction will put on sale 71 state properties, including 20 joint stock companies, six small enterprises and facilities, 34 non-residential areas and 11 vehicles.

The six small enterprises are located in Khachmaz, Jalilabad, Oguz, Masalli and Shamakhi regions.

Meanwhile, the greater part of the non-residential areas are located in Baku. The most expensive of them is an area located in the Bakikhanov village of the capital’s Sabunchu district. Its starting price is set at $60,200.

The joint stock companies set for privatization operate in the areas of construction, industry, agriculture, transport and other sectors. Azinterservis, Azermetalinvest and others are among these companies.

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.