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90 more state objects to be put up for sale

12 February 2018 18:26 (UTC+04:00)
90 more state objects to be put up for sale

By Sara Israfilbayova

The State Committee on Property Issues of Azerbaijan will hold next auction on privatization of state property on March 13, where 90 state objects will be put up for sale.

The auction will offer 18 joint-stock companies, 29-small state enterprises, 40-non-residential areas and three vehicles.

Some of the properties will be put up for auction together with land plot. These properties are mainly located in Baku, Sumgayit, Balakan, Gabala, Shamkir, Goranboy and other cities and regions of the country.

Information about the auction is posted on the official website of the Committee, on the website privatization.az 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 – 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.

The State Committee has started to hold electronic auction from 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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