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About 300 state objects to be privatized by late 2017

19 September 2017 16:59 (UTC+04:00)
About 300 state objects to be privatized by late 2017

By Sara Israfilbayova

Revenues from the privatization of state property to the state budget of Azerbaijan will exceed 100 million manats ($59.33 million) until the end of 2017.

About 300 state properties and enterprises are planned to be privatized until the end of 2017, Chairman of the State Committee on Property Issues Karam Hasanov told journalist on September 19.

“To date, over 1,100 state objects and enterprises have been put up for privatization, as a result of privatization more than 93 million manats ($55.18 million) have been directed to the state budget,” Hasanov stressed.

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.

Moreover, the State Committee on Property Issues held the first electronic auction on July 4.

The "electronic auction" service, which is available on the website privatization.az, combines the privatization procedure of vehicles and equipment. In the future, it will be possible to privatize small state enterprises and facilities, joint-stock companies through electronic auction. Now, the corresponding work in programming is being implemented.

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