PricewaterhouseCoopers to Advise Privatization of State Property

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