The State Committee for Property Affairs of Azerbaijan (SCPA) has signed a memorandum of cooperation with PricewaterhouseCoopers. The document provides for the provision of comprehensive support by PwC to attract foreign investors to the privatization process.
As Turan was told in the SCPA press service, investment conferences and forums on privatization of state property in Azerbaijan will be held with PwC. SCPA and PwC are working on a plan of privatization in the most attractive forms and methods for foreign investors.
SCPA intends to cooperate with other international consulting companies.
Since July 2016 the government has been implementing a more transparent and open privatization policy. Foreign investors still do not take part in the privatization of small enterprises and facilities or the purchase of 30% stakes in previously privatized public companies.
About 45,000 small enterprises and objects have been privatized and 1,600 enterprises have been corporatized and privatized in Azerbaijan since 1996. Foreign investors participated mainly in the privatization of several companies involved in communication, industry and services. ----08D
Economics
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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.
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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.
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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.
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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.
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