Over 100 state enterprices to be put up for privatization
By Rashid Shirinov
Next auction on privatization of the state-owned properties will be held on November 1, Azerbaijan’s State Committee on Property Issues told on October 31.
The auction, to be held at the Auction Centre of the Committee, will put up for sale 101 enterprises and properties, which are 23 joint stock companies, 62 small enterprises and properties, as well as 16 vehicles.
The joint stock companies function in the fields of wood processing, poultry, chemical industry, bread production, transport and construction.
The largest company to be put up for the auction is an enterprise for cotton processing in the Yevlakh region with registered capital of 2.4 million manats ($1.45 million). The auction will feature 20 percent of its shares, valued at 239,000 manats ($144,000).
A total of 31 state-owned properties were sold at the last auction of the Committee held on October 25.
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. “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.
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Rashid Shirinov is AzerNews’ staff journalist, follow him on Twitter: @RashidShirinov
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