BAKU, Azerbaijan, July 2. Investors from over 30 countries have been invited to take part in the privatization of the Baku Shoe Factory, representative of the Azerbaijani State Service for Property Issues under the Ministry of Economy Elmar Yagubov told reporters during a media tour of the factory on June 30, Trend reports.
According to Yagubov, the privatization of state-owned enterprises in the capital and regions of Azerbaijan is carried out to strengthen the investment potential of private enterprises.
"The privatization of the factory will increase competition in the sector. Its authorized capital was set by an independent company in the amount of over 7.8 million manat ($4.6 million). The number of shares of the company is 3.9 million with a par value of two manat ($1.18) each," he said.
The official also noted that in order to attract potential investors to the privatization of the enterprise, official letters were sent by the State Service for Property Issues to nearly 30 foreign companies.
"They included investors from Türkiye, Italy, Germany, the UK, France, Portugal, Finland and other countries," added Yagubov.