Azernews.Az

By Amina Nazarli

A total of 12 state-owned properties were sold on November 15 during the auction of Azerbaijan’s State Committee on Property Issues.

The cost of the properties amounted to 1.2 million manats ($699,422). The auction also put on sale 12 non-residential areas, two small state-owned enterprises, three joint stock companies and one vehicle.

"Today's auction was different due to high demand among potential buyers. Non-residential land in Nasimi district of Baku, put up for auction at 18,000 manats ($10,000), eventually was sold for 45,000 manats ($26,000). Another area in the Narimanov district of Baku cost 12,000 ($6,900) was sold for 12.500 manats ($7.2000)," the committee reported.

The full list of the state enterprises is available at http://privatization.az/index.php/az/

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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Amina Nazarli is AzerNews’ staff journalist, follow her on Twitter: @amina_nazarli

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