Azernews.Az

By Nigar Abbasova

First auctions within the framework of the new privatization program are scheduled for September 14 and 20, the State Committee on Property Issues reported. The Center for Information Technology and Management will be a venue of the auction.

For the first time, potential investors as well as press members will be eligible to watch the event.

Privatization of the state-owned property is considered to be a part of an action plan aimed at revitalizing of the country’s economy amid low energy revenues.

The process is expected to attract both foreign and local investors, as well as improve the business environment of the country and accelerate business revival. Major objective of the privatization is enhancing entrepreneurship, as well as setting up competitive environment, increasing the effectiveness of the economy through attraction of investment to the economy, structural adjustment, and increasing the living standards.

The country has put up some 138 facilities of the state property for privatization, with 50 of them being a 30 percent share of the stock portfolio of enterprises, operating in different spheres of economy, 62 non-residential areas, other state properties and facilities, and 26 means of transport.

A complete list of state facilities put up for sale is available at http://privatization.az/index.php/az/sas-s-hif/mue-ssis-l-r# portal, which was issued this July to significantly simplify the process of privatization and to increase transparency in this field.

More than 1,000 different public facilities were privatized in Azerbaijan in 2015.

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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova

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