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Over half billion manat invested in state-owned enterprises privatized through investment competition

Business Materials 26 January 2011 12:47
Azerbaijan privatized more than 750 state-owned enterprises and objects in 2010, as well as land plots hosting about 500 objects, State Property Committee Chairman Kerem Hasanov said at a board meeting on the results of 2010.
Over half billion manat invested in state-owned enterprises privatized through investment competition

Azerbaijan, Baku, Jan.26 / Trend U. Ismaylova /

Azerbaijan privatized more than 750 state-owned enterprises and objects in 2010, as well as land plots hosting about 500 objects, State Property Committee Chairman Kerem Hasanov said at a board meeting on the results of 2010.

As a result of a change of ownership last year, about 10 joint-stock companies were created and the shares of 30 joint-stock companies were privatized through 24 monetary and voucher auctions, Hasanov said.

Last year, about 10 joint-stock companies were privatized through investment competitions. About 90 million manat is planned to be invested in these companies.

In 2010, 60 million manat was invested in state-owned enterprises privatized in previous years. The owners of five privatized enterprises received the right to property through investment competitions as a result of contractual obligations.

As of Jan. 1, over 540 million manat was invested in privatized state-owned enterprises through investment competitions. More than 13,000 jobs were created in these enterprises.

Within the second state property privatization program in 2010, about 57 million manat was transferred to the state budget, which is 3.1 percent more than the projected figure.

The official exchange rate is 0.7974 manat to $1 on Jan. 25. 

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