17 state objects privatized at latest auction

Azerbaijan’s State Committee on Property Issues held another auction for privatization of the state property on June 6.

The Committee announced that seven small state enterprises, six non-residential areas and four vehicles were privatized at the auction.

Four of the small enterprises are located in the Garadagh, Nasimi, Binagadi and Narimanov districts of Baku, and other three are in Ganja, Imishli and Guba regions of the country.

Some of the properties, including Metals and Food warehouse in Garadagh district and Petrol station No. 2 in Imishli region, were privatized together with the land.

As for the privatized non-residential areas, five of them are located in Yasamal, Khatai and Nasimi districts of Baku, and another one is in Ganja region. Their areas vary between 14.2 and 107.3 square meters.

The State Committee informed that the next auction on privatization of state property will take place on June 13. It will offer 88 state objects, including 20 joint stock companies, 40 small enterprises and 28 non-residential areas.

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 – 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 improve the business environment of Azerbaijan.