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Azerbaijan: 21 State Objects Privatized at Latest Auction
Source: https://www.azernews.az
Source Date: Wednesday, July 12, 2017
Focus: Citizen Engagement, Institution and HR Management
Country: Azerbaijan
Created: Jul 14, 2017

The State Committee on Property Issues of Azerbaijan held next auction of privatization on July 11, following which 21 state properties were privatized.

One of the sold objects is a joint-stock company, 8 - small state enterprises and 12 - non-residential areas.

Four small state enterprises and 11 non-residential areas were privatized in Baku, 4 small state enterprises and 1 non-residential area was privatized in other cities and regions of the country.

Moreover, the State Committee on Property Issues held the first electronic auction on 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.

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.

Next auction on privatization of state property will be held on July 18. In total, 124 state properties will be put up for auction, 25 of which will be joint-stock company, 21-small state enterprises, 73-non-residential areas and 5-vehicles.

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