By Sara Israfilbayova
The State Committee on Property Issues of Azerbaijan held the first electronic auction on July 4.
The Committee reported that currently, the "electronic auction" service 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.
The privatization procedure is conducted in the appropriate section of the website e-emdk.gov.az.
During the first electronic auction, a car GAZ 3102, put up for auction at the starting price of 2,000 manats ($1,174), was privatized at a price of 4,120 manats ($2,420). The car, sold at auction, was licensed in the name of the buyer.
The Committee reported that anyone can take part in electronic privatization. To obtain the right to participate in the e-auction, user is required an electronic signature for registration at the e-emdk.gov.az page or on the e-government portal (e-gov.az). The submission of an application for participation in the auction is also conducted in electronic form.
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.
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