More state properties exhibited for sale

By Azernews

By Sara Israfilbayova

The State Committee on Property Issues of Azerbaijan held next auction on privatization of state property on September 18.

The Committee reported that non-residential areas are located in Baku and Sumgayit.

The State Committee on Property Issues of Azerbaijan will hold next auction on privatization of state property on September 25, where 118 state objects will be put up for sale.

The auction will offer 83 small state enterprises, 28 non-residential areas and 7 vehicles.

As a whole, more than 150 auctions have been held since the beginning of the year.

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.

Moreover, the State Committee on Property Issues held the first electronic auction on July 4, 2017.

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 State Committee on Property Issues was established on May 19, 2009 on the basis of the relevant presidential decree.

The main activities of the State Committee are the management of state property, attraction of investments, maintenance of a single cadastre of immovable property, maintenance of a land cadastre, organization of a land market, protection and improvement of land quality.