Azerbaijan to launch major privatisation programme in September

By bne IntelliNews August 25, 2016

Azerbaijan will hold its first auctions as part of a major privatisation programme between September 14 and 20, Trend news agency reported citing the country's State Property Issues Committee.

Azerbaijan announced plans for a wide-ranging privatisation programme in January as part of the government's efforts to better balance its budget and increase efficiency in some of the key sectors of the economy. However, progress on the programme has been slow. Earlier this summer, authorities launched a portal - www.privatization.az - which has since been populated with some 100 companies, primarily with industrial and agricultural entreprises.

At the September auction, the government will seek to privatise part of 50 companies, and to sell 62 non-residential buildings and 26 vehicles, the committee said.

Azerbaijan’s finance minister said in January the government will be seeking to raise AZN100mn (€54mn) through privatising state assets this year. The government’s privatisation push also aims to revive the energy-rich nation's stalling economy that has been badly hard by falling oil prices.  

Related Articles

Moody's upgrades troubled Azerbaijani lender IBA's rating to 'Caa1', downgrades Moscow unit

Rating agency Moody's upgraded the long-term foreign and local currency deposit ratings of Azerbaijan's largest lender, International Bank of Azerbaijan (IBA), on July 25 from 'Caa2' to 'Caa1'. ... more

Azerbaijan's Aliyev, Russia's Putin hold surprise meeting in Sochi

Azerbaijani President Ilham Aliyev and Russian President Vladimir Putin held an unannounced meeting in Sochi on July 21, according to RIA Novosti press agency. The two heads of state reportedly ... more

KPMG to be audited in Azerbaijan after failing to spot banking client problems

KPMG Azerbaijan, a subsidiary of the Big 4 consultancy, will be audited by Azerbaijan's public Auditing Chamber, Turan news agency reported on July 22 citing Akram Hasanov, the head of the ... more

Dismiss