This includes structures of SOCAR, AzerGold CJSC, ASCO, BakTelecom, AzTelekom, and ABB bank, as reported by Trend on Tuesday.
“Last year, the President of Azerbaijan issued a decree to attract private sector investments in the privatization of state-owned enterprises. According to this decree, we are preparing proposals for all state enterprises. The preparation of proposals should be completed within nine months. The plan involves selling share packages, not direct privatization,” Eynullayev stated.
He mentioned that shareholding might affect SOCAR structures such as the Azerkhimiya production association, enterprises producing ethylene and propylene, methanol, and urea plants.
“Local and foreign investors will be able to participate in the purchase of shares in production associations (PAs) and CJSCs, where currently 100 percent of the shares are state-owned. The state’s shares will be reduced. Work is currently underway to prepare proposals for each CJSC and PA, and this may take nine months,” added Eynullayev.
He emphasized the government’s interest in attracting foreign investors to the privatization process but noted that restrictions remain for them regarding land rights.
