60 more state objects to be put for sale
By Rashid Shirinov
Azerbaijan’s State Committee on Property Issues will hold another auction for privatization of state objects and enterprises on January 24, 2017.
The auction will put on sale 60 state properties, including 20 joint stock companies, 17 small enterprises and facilities, 17 non-residential areas and six vehicles.
These state objects are located both in Baku and regions of the country. Their activities cover the areas of repair, industry, public nutrition, food, agriculture, transport, construction, production, etc.
The most expensive objects and the enterprises to be put for the auction are a silk factory in Zagatala ($317,000), a shop in Sumgayit ($243,000) and the Shamkir branch of Chinar factory on manufacture of refrigerators ($167,000).
The third stage of privatization in Azerbaijan started in the framework of the presidential decree dated May 19, 2016. 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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