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177 state objects to be exhibited for sale

6 February 2018 19:38 (UTC+04:00)
177 state objects to be exhibited for sale

By Sara Israfilbayova

The State Committee on Property Issues of Azerbaijan will hold next auction on privatization of state property on March 6, where 177 state objects will be put up for sale.

The auction will offer 18 joint-stock companies, 42-small state enterprises, 82- non-residential areas and 35 vehicles.

The small state enterprises, put up for the auction, include enterprises specializing in transport, repair, textile weaving and others.

Among the joint-stock companies, exhibited for the auction, are enterprises specializing in cotton growing, poultry farming, agriculture, transport, construction, repair, trade, production, processing and others.

Sixty-four non-residential areas are located in Baku, the rest-in other cities and regions of the country.

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

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 –, 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.

The State Committee has started to hold electronic auction from July 4.

The “electronic auction” service, which is available on the website, 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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