Specialized Portal on Privatization
The State Committee on Property (SCP) has prepared a new specialized portal (www.privatization.az) on the privatization of state property.
This information resource will provide detailed information about enterprises and objects offered for privatization, which SCP has not done. So far, the portal contains information about Dashkesan Mining Plant and JSC Bakelektroavtomat. In the future with the help of this portal electronic trading will be also carried out.
On July 26 SCP held a public presentation of the new resource with the participation of international consulting companies, public and international organizations.
SCP, pursuant to the instructions by the Head of State on the preparation for the privatization of enterprises, cooperates with the consulting companies KPMG, PwC, Ernst & Young and Deloitte & Touche, and with experts and specialists.
"The list of enterprises subject to privatization has been prepared and the action plan for the preparation of the privatization has been approved," the SCP Deputy Chairman Rafig Jalilov said.
A stock analyst Jafar Ibrahimov believes it is expedient to provide BSE participation in the privatization, as BSE has the expertise, the necessary infrastructure and the human resources. According to him, the exchange will also provide high transparency of the privatization process, coverage and most importantly - the confidence of investors. ----------08D
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review