Country to hold next auction in late July
The State Committee on Property Issues of Azerbaijan plans to hold next auction on privatization of state property on July 31, where 73 state objects will be put up for sale.
The State Committee on Property Issues of Azerbaijan plans to hold next auction on privatization of state property on July 31, where 73 state objects will be put up for sale.
The auction will offer 21 jointstock companies, 31 small state enterprises, 17 non-residential areas and four vehicles. Small state enterprises are located in the capital, Goygol, Gazakh, Goranboy, Lankaran and other cities and regions of the country.
Non-residential areas are located in Surakhani, Sabail, Narimanov, Khatai and other districts of the capital.
The State Committee on Property Issues has held 114 auctions since the beginning of the year, during which 350 state properties were privatized.
The portal for privatization, 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.
Moreover, the State Committee on Property Issues organizes electronic auction.
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, jointstock companies through electronic auction. Now, the corresponding work in programming is being implemented.
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.