Germany Shares Experience of State Property Management

In cooperation with the German Society for International Cooperation (GTZ) and the federal structure of the privatization and state property management of Germany in Baku on September 6th hosted the seminar on "The German experience in the management and privatization of the state share and shares in companies "for employees of the central and regional offices of State Property Committee (GKVI).

According to the press service of the State Committee for Property Affairs, the seminar was held by the leaders of GTZ Wolf Schmieder and Klaus Helmrath. They told us about the best experiences in Europe for the effective management of state ownership in the companies and the mechanisms of their sales . An exchange of views was made on the application of this experience in Azerbaijan.

As of January 1, 2013 available GKVI were 95 enterprises. In 313 JSC the state owned stakes. Many of these companies do nothing. Volume listed in the state budget of dividends on them in 2012 did not exceed 100,000 manat. GKVI occasionally announces the list of state-owned enterprises to be pre-privatization improvement. For this purpose each year is allocated from the state budget committee several million manat. However, it is not GKVI reported on the recovery of any enterprise. Experts see risk management in GKVI as low. Typically, GKVI sells stake in state companies or shares to one investor that by the standards of corporate governance threatens the financial future of the company . - 08D-