Transformation of Ownership in 9 Months
Within the first nine months of this year, the State Committee on Property (SCP) sold through auctions and direct contracts more than 580 plants and facilities.
As reported today the sector of public relations of SCP, this was stated at the meeting on the progress of privatization of state property in the first 9 months of this year. Currently, the emphasis is on sale of public lands under privatized entities. Since the beginning of this year about 450 such allotments have been privatized. In addition, another 310 land areas were rented by owners of the property over them.
"Small" and "medium" privatization in Azerbaijan is almost nearing completion. For the first nine months of this year were sold stakes in another 28 JSC. According to the report by SCP, the state has a stake in 164 JSC. In the possession of SCP there are 55 enterprises waiting for their turn.
In the years 1996-2013 were privatized 43,965 small enterprises and facilities, including vehicles (13,357 units).
In the Nakhchivan Autonomous Republic since 2003, privatization has been carried out at its own discretion, without regard to the "center." --08D--
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- Politics
- 30 October 2014 14:23
Economics
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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.
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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.
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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.
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