13 state objects privatized at latest auction

By Azernews

By Sara Israfilbayova

The State Committee on Property Issues of Azerbaijan held next auction on privatization of state property on August 22, following which 13 objects were sold.

Six of the sold objects are small state enterprises, 5-non-residential areas and 2-vehicles.

Three non-residential areas and 2 vehicles were privatized in Baku, 6 small state enterprises and 2 non-residential areas- in other cities and regions of the country.

Three of the 6 small state-owned enterprises privatized in the regions are located in Imishli, the rest are in Goychay, Khachmaz and Sumgayit.

Some of the properties were put up for auction together with land plot.

In general, 110 auctions have been held in 2017.

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 privatization process is designed to attract both foreign and local investors, as well as develop the business environment of Azerbaijan.

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.

Moreover, 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.