About 80 state objects to be offered for privatization

By Azernews

By Rashid Shirinov

Azerbaijan’s State Committee on Property Issues will hold another auction for the privatization of state objects and enterprises on March 7, the Committee said on February 6.

The auction will feature 78 state objects, including 17 small enterprises, 21 joint stock companies, and 36 non-residential areas. Four property complexes of the liquidated scientific and creative production association Azerkhalcha will also be offered for privatization.

The objects to be put up for the auction are located in Baku’s districts (Nizami, Nasimi, Sabail, Khazar) and in Shaki and Goygol regions of the country. Their activities cover the areas of construction, industry and transport.

The total cost of the state objects offered for privatization amounts to $6.93 million.

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.

So far, the Committee held 15 auctions and more than 700 state enterprises and objects have been put for sale. Over 300 new state-owned enterprises and facilities declared open for privatization in Azerbaijan in 2016.

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.