President of Azerbaijan Ilham Aliyev issued a Decree on 16 September 2005 on establishing the State Committee on State Property Management.
The Decree notes, the decision on setting up the State Committee was taken aimed at improving and increasing the efficiency of the state property management, ensuring transparency in privatization of the state objects, increase of foreign investments inflow into the sector, as well as creating control mechanisms for drawing investments into privatized enterprises, Trend reports.
The State Committee on State Property Management is established based on the Department on Management and Privatization of the State Property of the AzerbaijanвЂ™s Ministry of Economic Development.
According to the Decree, the Cabinet of Ministers of Azerbaijan is entrusted to develop the draft regulation, structure and the staff number of the State Committee and to bring the legislative acts in conformity with the provisions of the given Decree.
By his other Decree the head of the AzerbaijanвЂ™s state appointed Kyaram Hasanov the chairman of the State Committee on State Property Management.