Over 30 state properties privatized through auction
By Rashid Shirinov
A total of 31 state-owned properties have been sold on October 25 during the auction held by Azerbaijan’s State Committee on Property Issues as part of a new privatization program, the Committee said.
Three lots of the properties, put up for privatization, are joint-stock companies, 16 are small state enterprises and properties, three are unused non-residential areas, and the remaining nine are vehicles.
Six out of the 16 state-owned enterprises are in Baku, and the rest are located in other cities and regions of Azerbaijan.
The auction was held at the Auction Centre of the Committee. A total of 101 state properties will be put up for privatization at the next auction, which will take place on November 1.
The third stage of privatization started in the framework of the decree dated May 19, 2016 by Azerbaijani President Ilham Aliyev on additional measures to improve the process of state property privatization, as well as the presidential Decree from July 19, 2016, on some measures to improve the management efficiency and accelerate privatization of state property.
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.
The privatization process is designed to attract both foreign and local investors, as well as improve the business environment of Azerbaijan. “Why Azerbaijan is special” section available on the website explains the reasons and advantages of investing in the country.
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Rashid Shirinov is AzerNews’ staff journalist, follow him on Twitter: @RashidShirinov
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