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100 State Objects to be Offered for Privatization

The State Committee on Property Issues will hold another auction for privatization of state property on May 10.

The committee said that the auction will feature 99 state objects, including 21 joint-stock companies, 38 small enterprises, 29 non-residential areas and 11 vehicles.

The joint stock companies offered for privatization are located in Sabirabad, Agsu, Barda, Shirvan, Lankaran, Tartar and Kurdamir regions of the country. They cover the spheres of transport, poultry, industry, including the food industry, and others. The authorized capital of these companies varies between $41,000 and $505,000.

Small enterprises, in turn, cover areas of public catering, repair, textile industry, transport and other spheres. They are located both in the capital Baku and in Shamkir, Imishli, Sumgayit, Khachmaz, Ganja and other cities of Azerbaijan.

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.

Source: Azertag

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