The State Committee for Property Affairs (SCPA) has begun to prepare 352 enterprises and objects for privatization.
The first phase will include restructuring, inventory and assessment of these objects, which are on the balance of about 30 public organizations.
“The main purpose of the divestiture of these facilities is to reduce the burden of state-owned enterprises and the state budget for their maintenance, as well as to bring investment to them through privatization,” Turan was told in SCPA.
Note that many departmental health services, cinemas, recreation facilities, manufacturing plants, farms, etc. have been opened for privatization. In addition, the privatization of 2,507 clubs and houses of culture is expected. ----08D
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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