Over 100 state enterprices to be put up for privatization

By Azernews

By Amina Nazarli

The next auction on privatization of state property will be held on December 13, Azerbaijan’s State Committee on Property Issues reported.

The auction will put up for sale 101 enterprises and properties, which are 23 joint stock companies, 43 small enterprises and properties, 19 of unused non-residential areas and 16 vehicles.

Most of the 43 small objects on display for privatization are sold together with the land on which they are located.

These companies and facilities are located in Baku, Ganja, Shaki and Sumgayit, Shirvan, Sabirabad, Shamkir, Zagatala and other regions of the country.

The most expensive small state enterprise put up for auction, along with land, is "Ganja cotton mill" with a total area of 44.600 square meters. Its cost is 5.24 million manats ($3.05 million).

With regard to joint-stock companies, only 30-45 percent of their shares will be put up for sale. The activities of these companies cover the areas of construction, repair, industry, transport, processing, and others.

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.