More state objects to be offered to entrepreneurs
By Rashid Shirinov
Azerbaijan’s State Committee on Property Issues will hold another auction on April 18, 2017 for privatization of 141 state objects.
These objects include 29 small businesses, 25 joint-stock companies and 87 non-residential areas, the agency announced on March 27.
The state objects to be put up for sale mainly operate in the fields of construction, industry, transport and others.
The small businesses are located in Baku, Sumgayit, Shamkir, Lankaran, Zagatala, Tartar, Balakan and other regions of Azerbaijan.
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.
So far, over 700 state enterprises and objects have been put for sale. More than 300 new state-owned enterprises and facilities were declared open for privatization in Azerbaijan in 2016.
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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