Privatization of state objects yet underway

The State Committee on Property Issues held 197 auctions in 2017, during which 877 state properties were privatized.

This was announced at a meeting of the State Committee on Property Issues of Azerbaijan on the results of 2017 and forthcoming tasks.

Also during the event, the amount of investments attracted through the tenders for privatized enterprises was announced: in the past year, investment competitions brought 6 million manats ($3.53 million). In addition, 132 new work places were created at similar enterprises.

In addition, it was noted that about 206,000 hectares of agricultural land was transferred for the use of legal entities and individuals for 2017.

Also, during the reporting period, 23 agro-industrial parks with a total area of 82,000 hectares were created in order to ensure the development of agriculture in the country.

Meanwhile, the State Committee keeps holding auctions. Thus, next auction on privatization of state property was held on January 30.

In total, 44 orders were made for the privatization of 22 state properties at this auction.

For nine objects, 31 orders were accepted. Eight of the orders were made in electronic form.

Six non-residential areas were privatized in Baku, the rest-in Mingachevir, Aghdash and Absheron.

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.