Azerbaijan, Baku / Trend / The State Committee on State Property Management of Azerbaijan Republic proceeds with the privatization of shares in 15 joint-stock companies along drawing in investors through investment competitions. The companies are engaged in mechanical engineering, communications, the chemical industry, production of construction materials and re-production of agriculture products, etc.
Through investment competitions, investors becoming involved in the restoration of production process and introducing new technologies, the output of products corresponding to modern standards have invested $350mln.
As a result of investment competitions over 500 new jobs were provided in 2007 and 11,000 since the beginning of the privatization. The investment liabilities comprise $457mln. The figure increased by 49%, compared with 2006.
Some 75% of the enterprises privatized in 2006 through investment competitions have been established in different regions of the country, which promotes social and economic development of the regions and will provide a flow of investments for them.