The State Committee on Property has announced the list of 9 JSC for privatization. The office requires a consultant to determine the forms and methods of the privatization and the implementation of this process.
It is planned to offer shares of the following joint-stock companies: Sumqayit Tikinti Xidmet, Gence Menzil Tikinti, Azerenerjitikintiqurasdirma, Azerneqliyyyatyoltikinti, Ceyranbatan Demir Beton, Mugansutikinti, Celilabad-Serab, Celilabad-Serab-9, Sumqayit Superfosfat, Mingecevir Texniki Rezin, Mingecevir Regenerat, Mingecevir Suse Lifi, Baki Dezgahqayirma, Baki Elektroavtomat and Oguz Serab.
Note that except for the first of the enterprises, all the remaining companies had previously been exhibited at an investment tender. The last three (Mingecevir Texniki Rezin, Mingecevir Regenerat and Oguz Serab) have even been sold by this method, but later results of these competitions were canceled.
In two companies (Azerenerjitikintiqurasdirma and Azerneqliyyyatyoltikinti) the state controls a majority stake. According to available information, the administrative building of Azerneqliyyyatyoltikinti was demolished in connection with the expansion of the Baku seaside boulevard. However, its shareholders have not received the financial compensation owed.
The contests to identify a consultant will be held in early October. -----08D
Economics
-
Azerbaijan's State Statistics Committee announced on Tuesday that the monthly statistical reporting system for retail sales and services has been revised to enhance transparency and accuracy.
-
The State Oil Company of Azerbaijan (SOCAR) is examining opportunities in geothermal energy in partnership with U.S. companies as part of Azerbaijan's efforts to advance renewable energy. SOCAR President Rovshan Najaf and John Wallace, CEO of DeGolyer and MacNaughton, met in Baku to discuss initiatives including geothermal energy projects and carbon capture, utilization, and storage (CCUS) technologies, SOCAR announced on Tuesday.
-
On Tuesday, the Turan E-Commerce and Export Forum in Baku unveiled the new "Made in Turan" trademark, marking a bold step toward uniting the economic potential of Turkic states under a single label. This initiative aims to stimulate trade and strengthen economic ties among the member states of the Organization of Turkic States (OTS).
-
According to the State Customs Committee, food import expenditures in Azerbaijan rose by 10.2% in the first ten months of 2024 compared to the same period last year, reaching a record $1.97 billion. This increase, driven by growing demand for vegetables, fruits, tea, rice, and animal products, highlights the country's rising dependence on imported food despite government efforts to boost domestic agricultural production.
Leave a review