Over 200 state objects to be offered for privatization

By Azernews

By Rashid Shirinov

Azerbaijan’s State Committee on Property Issues will hold another auction for privatization of the state property on May 16.

The committee informed that the auction will feature 212 state objects, including 22 joint-stock companies, 116 small enterprises and 74 non-residential areas.

The joint stock companies offered for privatization are located in Baku, Barda, Kurdamir, Salyan, Sabirabad, Lerik, Agdash, Tartar and other eight regions of the country. They cover the spheres of industry, transport, repair, poultry, food, and others. The authorized capital of these companies varies between $5,400 and $537,000.

Small enterprises, in turn, cover areas of transport, catering, repair, industry, including textile and food, and other spheres. They are located in Shaki, Sabirabad, Ujar, Jalilabad, Balakan, Khizi, Mingachevir and other regions and cities of Azerbaijan.

Overall, about 250 state objects have been privatized at auctions in January-March 2017. They include small enterprises, joint stock companies, vehicles, and non-residential areas.

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.