TODAY.AZ / Business

More state objects privatized at auction

21 June 2017 [13:57] - TODAY.AZ

By Azernews


By Sara Israfilbayova

The State Committee on Property Issues of Azerbaijan held the auction of privatization on June 21, as a result of which 32 state objects were privatized.

The Committee reported that one of them is a joint-stock company, 19 are small state enterprises, 7-non-residential areas and 5-vehicles.

One joint-stock company, 8- small state enterprises, 6- non-residential areas and 5-vehicles was privatized in Baku.

Three of 8 small state enterprises privatized at the auction are located in Sabunchu, 3-in Surakhani, the rest-in Nasimi and Pirallakhi districts.

Four of 6 non-residential areas are in Narimanov district, the rest in Sabunchu and Nasimi districts.

The auctions were also held in the regions. Three of 11 privatized state enterprises are located in Shamkir, 2-in Sabirabad and the rest in Sumgayit, Sheki, Dashkasan, Salyan, Zagatala and Aghsu.

In total, over 1 million manats (app. $587,000) were transferred to the state budget.

In order to protect state property and effectively manage it in the new economic realities, President of Azerbaijan signed a decree on 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 develop the business environment of Azerbaijan.






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