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More state objects privatized

More state objects privatized

A total of 26 state-owned properties were sold on December 13 during the auction of Azerbaijan’s State Committee on Property Issues.

One small state object and two unused non-residential areas are located in Baku, one object in Ganja, two objects in Sheki, one object in Zagatala, two unused non-residential area in Sumgait, two in Goychay, one in Agdash and one in Fuzuli.

As a result of privatization of these facilities, the state budget will receive 4.3 million manats ($2.4 million).

At the next auction to be held on December 20, some 84 state property objects will be put on display for privatization.

The third stage of privatization started in the framework of the decree dated May 19, 2016 by the presidential decree. 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 –, 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.