BAKU, Azerbaijan, March 14. Privatization brought 514.4 million manat ($303.2 million) to Azerbaijan's state budget in the last five years.
Data obtained by Trend from the State Service on Property Issues under the Ministry of Economy shows that during this period, shares of 52 joint-stock companies, 1,237 small enterprises, objects and leased non-residential areas, 2,043 vehicles, and 961 enterprises and objects located on state-owned land were privatized.
The privatization of 12 state enterprises and property complexes was carried out through investment competitions.
Additionally, 56.7 million manat ($33.5 million) were invested in the privatized enterprises over the last five years.
To note, as an initial step for the privatization of enterprises and objects, inventory and organizational restructuring measures were carried out, their organizational and legal forms were changed in accordance with legislation, the authorized capital was formed based on the current market value, and this was clarified with the participation of an independent evaluator.
The successfully privatized production enterprises from 2020 through 2024 include Azertutun and Baku Shoe Factory JSCs, Sheki Wine, West Textile, Sumgayit Textile, Baku Aluminum Profiles, Balakhani Metal Constructions, Baku Marble Granite, and Baku Concrete Constructions LLCs.