12 state-owned properties privatized in Azerbaijan

Other objects are located in Shirvan, Sabirabad and Saatli regions, while five other objects are vehicles, Azerbaijan's State Committee on Property Issues reported on December 6, according to AzerNews.

The next auction will be held on December 13 and it will involve a total of 101 objects of state property.

The third stage of privatization started in the framework of the decree dated May 19, 2016 by the presidential decree. Under the decree, the acceleration of the state property privatization process has been defined as an important direction of the economic policy.

The portal for privatization – privatization.az, launched in July 2016, reflects all necessary information about the facilities, their addresses, location, and even initial cost and aims at facilitation of the process. The website is available in two languages - Azerbaijani and English. "Why Azerbaijan is special” section available on the website explains the reasons and advantages of investing in the country.

The privatization process is designed to attract both foreign and local investors, as well as improve the business environment of Azerbaijan.