Azerbaijan simplifying privatization, looking more attractive to investors

Business Materials 17 July 2021 15:44 (UTC +04:00)
Azerbaijan simplifying privatization, looking more attractive to investors

BAKU, Azerbaijan, July 17

By Zeyni Jafarov - Trend:

Simplification of privatization procedures, the transition of auctions to the electronic format, the organization of online services, and the put-up of perspective enterprises for privatization create ample opportunities for attracting investors to Azerbaijan, Trend reports referring to the Ministry of Economy of Azerbaijan.

According to the ministry, from January through June 2021, the State Committee on Property Issues has held 34 privatization auctions, at which 123 state properties, including ten packages of shares in joint-stock companies, 26 - small state enterprises, 86 vehicles, and one semi-finished building, were privatized.

The ministry noted that the introduction of innovations has led to an increase in the efficiency and satisfaction of citizens with the privatization process. So, in the first half of this year, 38 electronic applications were accepted for the state property put up for auction, and 15 online connections to the auctions were made through the Electronic Auction portal.

In the reporting period, 308 non-residential premises were leased, 403 land plots on which enterprises and facilities are located, and the term of 145 lease agreements was extended.

Meanwhile, revenues of the state budget from the privatization amounted to 32.3 million manat, or $19 million (the six-month forecast fulfilled by 72.8 percent). Some 7.2 million manat ($4.2 million) was paid to the budget for renting state property (the half-year forecast fulfilled by 134.2 percent).

The state budget revenues from the rent increased by 58.7 percent compared to the same period last year.


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