85 state objects will be put up for sale

By Azernews

By Mirsaid Ibrahimzade

Azerbaijan’s State Property Issues Committee will hold a regular auction on May 7 of this year, during which 85 state objects will be put up for privatization, Trend reports, referring to the State Property Issues Committee.

Among other things, 23 joint-stock companies, 24 small state-owned enterprises and facilities, 16 non-residential premises, 15 vehicles and five unfinished buildings will be put up for auction.

Packages of shares of joint-stock companies in the amount of 30-45 percent of the total number operating in various sectors of the economy will be presented at the auction, including agriculture, transport and construction.

State property objects in Agjabedi, Ujar and Tovuz and other regions of Azerbaijan are subject to privatization.

The useful area of state-owned small enterprises and facilities located both in the capital and in the regions varies from 12.2 square meters to 11,200 square meters. Among them are shopping facilities, auxiliary economic facilities, warehouses and others.

State Committee on Property Affairs 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.