14 state objects privatized at latest auction

By Azernews

By Rashid Shirinov

The State Committee on Property Issues held another auction for privatization of state property on March 28.

The committee announced that 14 state objects were privatized at the auction.

Among the state property put up for privatization were small state enterprises and facilities, and residential areas. Moreover, several vehicles were privatized at the auction.

The privatized properties are located both in Baku and in other cities and regions of the country.

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.