Azernews.Az

By Rashid Shirinov

Another auction for privatization of the state-owned properties will be held on January 10, 2017, Azerbaijan's State Committee on Property Issues reported on December 5.

A total of 79 objects of state property, including 20 joint-stock companies, 44 small enterprises and properties, 15 non-residential areas will be offered to investors.

Most of the small enterprises are located in Baku, Khachmaz, Ganja, Mingachevir, Goychay, Jalilabad, Masalli and other regions of the country.

The most expensive ones among the auctioned objects will be the auto- and moto-service enterprise Araz ($409,000), non-residential building in the Nasimi district of Baku ($356,000), warehouse for food and metal products in Garadagh district ($171,000), restaurant “Lachin” in Sumgayit ($234,000), and brick shop in Qusar ($239,000).

The third stage of privatization started in the framework of the decree dated May 19, 2016 by the presidential decree. 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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