Azernews.Az

By Sara Israfilbayova

The State Committee on Property Issues of Azerbaijan held next auction of privatization on July 4, following which 5 small state enterprises, 14 non residential areas and 5 vehicles were privatized.

Small state enterprises related to repair, construction and trade facilities are located in Baku, Agsu, Shirvan, Zaqatala and Balakan.

Eleven non-used non-residential areas are located in Baku, the rest-in regions. A number of real estate objects exhibited at the auction, privatized with the land. Such facilities include a cocoon plant in Zaqatala, workshop No.33 in Balakan.

The land area of the plant in Zaqatala is 18,350 square meters, the total usable area is 3,881 square meters. The land area of the workshop in Balakan is 2,803 square meters, the total usable area is 403 square meters.

In general, the area of privatized objects varies between 71 and 3,881 square meters.

In order to protect state property and effectively manage it in the new economic realities, President of Azerbaijan signed a decree on 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 develop the business environment of Azerbaijan.

---

Follow us on Twitter @AzerNewsAz