Property Issues Committee: Several state objects privatized

By Azernews

By Rashid Shirinov

The State Committee on Property Issues held another auction for privatization of state property on January 24.

The Committee told Trend that two non-residential areas, located in the Nasimi and Nizami districts of Baku, were privatized at the auction.

The most expensive state object sold at the auction was the basement section of a building, located in the Nasimi district of the capital. It was privatized at a price of over $45,000.

The third stage of privatization in Azerbaijan started in the framework of the presidential decree dated 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 improve the business environment of Azerbaijan.