In­vest­ment banks be­ing at­tracted to pri­va­ti­za­tion

Azer News - - Front Page - By Kamila Aliyeva

In an ef­fort to im­prove the busi­ness en­vi­ron­ment, Azer­bai­jan pays a great deal of at­ten­tion to pri­va­ti­za­tion aimed at pro­mot­ing the ac­ti­va­tion of state en­ter­prises, which in turn, will help to cre­ate new jobs.

Azer­bai­jan’s State Com­mit­tee on Prop­erty has sent in­vi­ta­tions to 500 for­eign com­pa­nies, in­vest­ment banks and pen­sion funds to par­tic­i­pate in the process of pri­va­ti­za­tion of state-owned en­ter­prises in the coun­try, Kerem Hasanov, the chair­man of the depart­ment, said at an ex­panded meet­ing ded­i­cated to the re­sults of the first quar­ter of 2017 and fu­ture tasks.

In the first quar­ter of this year, nearly 250 state-owned en­ter­prises, in­clud­ing small en­ter­prises, joint­stock com­pa­nies, vehicles, as well as 63 non-res­i­den­tial and land plots, were pri­va­tized, he stressed.

The head of the State Com­mit­tee on Prop­erty stressed the need to speed up work to at­tract in­vestors to pri­va­tize state-owned en­ter­prises in re­gions that have the po­ten­tial and can con­trib­ute to the coun­try's so­cio-eco­nomic de­vel­op­ment.

In his speech, Hasanov re­called that the State Com­mit­tee launched a spe­cial web­site ded­i­cated to pri­va­ti­za­tion. In Jan­uary-March 2017, al­most 200,000 peo­ple used it, and al­most 600,000 peo­ple used the web­site since its launch.

The third stage of pri­va­ti­za­tion in Azer­bai­jan started in the frame­work of the pres­i­den­tial de­cree dated 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 – pri­va­ti­za­, 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 im­prove the busi­ness en­vi­ron­ment of Azer­bai­jan.

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