Over 120,000 joint-stock companies setup during privatization of state property head of State Privatization Committee of Azerbaijan

Politics Materials 12 July 2006 13:07 (UTC +04:00)

The forum В"10 years of privatization in Azerbaijan: achievements and prospectsВ" was held today in Baku. Trend reports, at the forum Kerem Gasanov, head of State Privatization Committee of Azerbaijan, said during 10 years of privatization over 50 regulatory acts have been approved to regulate this process.

В"During 10 years, over 35,000 small enterprises and facilities have been privatized. Over 1,500 large and medium enterprises have been transformed into joint-stock companiesВ", he outlined.

Gasanov said also over 120,000 joint-stock companies have been established in the course of state property privatization. В"Nearly 300k people became owners of property and over 40k people employed in privatization. Anyway, nearly 1mln people benefited from privatizationВ", he added.

Investment tenders in privatization resulted in $230mln investments. В"Today nearly 80% of GDP falls for private sector. After 1996, over 30 ministries, state committees, concerns and companies have been dismissed and their facilities put to privatizationВ", he said.