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State to offer 156 objects to entrepreneurs

25 September 2017 18:09 (UTC+04:00)
State to offer 156 objects to entrepreneurs

By Sara Israfilbayova

The State Committee on Property Issues of Azerbaijan will hold next auction on privatization of state property on October 24.

The auction will offer 156 state objects, of which 25 are joint-stock companies, 64-small state enterprises, 67-non-residential areas.

Some of the properties were put up for auction together with land plot.

The properties, put up for sale together with land plot are located in Shamkir, Tovuz, Imishli, Jalilabad, Goygol, Naftalan and other cities of the country.

About 61 non-residential areas to be put up for the auction are located in the capital city, the rest-in Mingachevir, Sumgayit, Shirvan and Sabirabad.

About 300 state properties and enterprises are planned to be privatized until the end of 2017.

Earlier, Chairman of the State Committee on Property Issues Karam Hasanov said that 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.

He added that 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.

Information about the auction is posted on the official website of the Committee, on the website privatization.az and on the facebook page.

The portal for privatization, 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 organizes electronic auction.

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.

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.

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