Azernews.Az

By Rashid Shirinov

The State Committee on Property Issues of Azerbaijan presented the new portal for privatization on July 26 – privatization.az.

The Deputy Chairman of the Committee Rafig Jalilov claimed that the portal is expected to significantly simplify the process of privatization and to increase transparency in this area.

The portal will contain all information about the objects offered for privatization, their addresses, area, location and their initial cost. In addition, the portal will give the opportunity to participate in online auctions.

The head of strategic planning, innovation, monitoring and analysis department of the State Committee on Property Issues, Shamil Shirinov, said that the new portal will allow foreign companies to participate in privatization as well.

“The portal was designed in two languages - Azerbaijani and English, which allows foreign investors to actively participate in the privatization process. In addition, the portal has a special section called “Why Azerbaijan?” that explains foreign investors why they should invest in our country,” Shirinov mentioned.

Today, the website presents information about two enterprises, the privatization process of which has already begun. They are the Dashkesan Ore-Dressing Plant and JSC Baku Elektroavtomat.

The portal was launched in accordance with the recent order of Azerbaijani President Ilham Aliyev on different measures over acceleration of privatization and increasing the efficiency of state property management.

Under the order, the Cabinet of Ministers is eligible to collect from the State Committee for Property Affairs and other related organizations the proposals for the list of enterprises to retain in public ownership, to implement their restructuring and to provide for privatization non-profile businesses and facilities.

The Cabinet will also take measures for structural changes and introduction of corporate management principles to improve the transparency and efficiency of financial and economic activities of large state-run enterprises.

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Rashid Shirinov is AzerNews’ staff journalist, follow him on Twitter: @RashidShirinov

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