The State Property Committee has prepared a draft of the III State Property Privatization Program. The document has been submitted to the Presidential Administration and the Cabinet of Ministers of Azerbaijan, Turan was told in the department.
The preparation of the document has involved four prominent international consulting companies KPMG, PwC, Ernst & Young and Deloitte & Touche.
The main task of the new state program of privatization is to increase economic activity, increase budget revenues from privatization, reduce the burden of state-owned enterprises to the budget and increase the transparency of the process.
The first privatization of SOEs was adopted in 1995 and was completed in 2000. In August of the same year came a new law "On privatization of state property" came into force and a second state privatization program was launched.
To date more than 50 thousand objects of "small" privatization have been privatized, including motor vehicles, as well as about 1,600 joint-stock companies.
The State Property Committee has recently reported on the progress of privatization in the first quarter of 2016, according to which 70 facilities, non-residential premises, unfinished buildings and 125 plots of land under privatized and private enterprises and objects were sold. ----08D
Economics
-
On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
-
Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
-
Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
-
While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
Leave a review