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 July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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