Azernews.Az

By Rashid Shirinov

A total of 19 state-owned properties were sold on November 1 during the auction of Azerbaijan’s State Committee on Property Issues, the Committee stated.

The auction was carried out as part of a new privatization program recently announced in the country, while 101 properties were put up for sale.

One of the sold properties is a joint-stock company, 17 are small state enterprises and properties, and another one is a vehicle.

Five of the 17 state-owned enterprises and properties are located in Baku, while the rest are in other cities and regions of the country.

A total of 31 state-owned properties have been sold at the previous auction of October 25. Next auction, which is due to be held on November 8, will offer 77 objects of state property for privatization.

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.

---

Rashid Shirinov is AzerNews’ staff journalist, follow him on Twitter: @RashidShirinov

Follow us on Twitter @AzerNewsAz