159 state objects to be put up for auction in late August

By Azernews

By Sara Israfilbayova

The State Committee on Property Issues of Azerbaijan plans to hold an auction on privatization of state property on August 29.

In total, 159 state properties are put up for auction, 25 of which are joint-stock companies, 64-small state enterprises, 64-non-residential areas and 6-vehicles.

Majority of the small state enterprises are put up for auction with land plot. Both, the land plot and the object are estimated separately. The small state enterprises are located in Baku, Sumgait, Yevlakh, Shirvan, Sabirabad and other cities and regions of the country.

The small state enterprises, put up for the auction, include enterprises specializing in transport, industry, weaving, public catering and others.

In order to buy property at auction 2 procedures must be passed: Firstly, must be made an order through the website of the State Committee (www.e-emdk.gov.az) and secondly, 10 percent of the lot value must be paid.

The State Committee on Property Issues held the first electronic auction on July 4.

The "electronic auction" service, which is available on the website privatization.az, combines the privatization procedure of vehicles and equipment. In the future, it will be possible to privatize small state enterprises and facilities, joint-stock companies through electronic auction. Now, the corresponding work in programming is being implemented.

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.