BAKU, Azerbaijan, February 25. Azerbaijan's revenues from privatization amounted to 108.9 million manat ($64 million), with an execution rate of 103.7 percent of the annual forecast, the State Service for Property Issues under the Ministry of Economy told Trend.
The report highlighted that during the year, the state-owned shares of "Baku Aluminum Profile" LLC and "Baku Marble Granite" LLC, as well as a complex for the production of diapers and paper towels, and a thirty percent remaining share of "Ganja-Gannadi" Open Joint Stock Company, were privatized through investment competitions.
Based on the obligations taken by the winners of these competitions, a total of around 28.4 million manat ($16.7 million) was to be paid to the state budget, investments of approximately 27.25 million manat ($16 million) were planned for the enterprises, and 280 jobs were to be created.
Including enterprises privatized in previous years through investment competitions, nearly 4.6 million manat ($2.7 million) were invested into enterprises in 2024, with around 3.1 million manat ($1.8 million) paid to the state budget.
In 2024, 45 auctions were held, during which the share packages of six joint-stock companies, six small state-owned enterprises, and 589 vehicles were privatized. In the past year, 402 electronic orders were received for state property put up for auction, and 56 online connections were made through the "Electronic Auction" software to participate in these auctions.