State Property Committee Turns to 500 Foreign Companies

Baku / 09.10.17 / Turan: In order to fulfill the tasks assigned to accelerate the privatization process and attract foreign investments, the State Property Committee sent appeals to more than 500 foreign companies, 40 investment funds, as well as 10 international consulting companies. So far only local investors take part in privatization.

To enhance the role of foreign investors, the State Property Committee representatives met with investors from Germany, the United States, France, Russia, China, Turkey, India, Great Britain, Iran and the U.A.E. this year. To increase interest in the enterprises put up for privatization, multilateral meetings were organized by the business unions of the U.S.A., Turkey and Germany operating in Baku, as well as the Black Sea Association of Exporters. Presentations about the enterprises put up for privatization are organized in the framework of business forums in Baku and abroad. The results of these meetings and events are not reported.

This year, the State Property Committee has held 40 auctions for which 1,400 enterprises and objects were exhibited, although most of them are offered repeatedly, since they do not find the client. Since September 2016 the Committee has been trying to sell the Dashkesan Mining Plant through investment competition. This enterprise has already been sold to foreign investors twice through investment competition, but the results have been canceled, and the investors have not been compensated. -----08D