Business Forum on "Privatization and Investment Opportunities, Modern Approaches, Transparent and Electronic Procedures" was held

A business forum titled "Privatization and investment opportunities, modern approaches, transparent and electronic procedures" was organized by the State Committee on Property Issues on December 21 in Mingachevir, River Side Hotel. About 100 businessmen and businessmen from the surrounding regions attended the forum, which was attended by the National Confederation of Entrepreneurs of Azerbaijan.

Associate Professor Emiliya Huseynova, Head of the Department of "Organization and Management of Industry" of Mingachevir State University, Arif Tagiyev and Gunesh Shafagatov, chief lecturers of the Department of Economics.

The main aim of the Forum is to inform entrepreneurship subjects about the process of privatization of state-owned property, new approaches in this field, introduction of innovations, newly opened enterprises and fields of privatization, and propaganda and awareness raising activities. Taking advantage of the country's favorable investment climate, practical steps are being taken to boost entrepreneurs' participation in this process.

Head of the State Committee on Property Issues Sadig Mammadov said that, according to the decree signed by the head of state Mr. Ilham Aliyev "On some measures to increase the effectiveness of state property privatization and acceleration," accelerating privatization with new approaches in line with modern challenges is a priority issue was determined. Modernization of the process of modernization of the standards of management, innovative approaches to privatization, the transition to the electronic environment is further expanded. The introduction of electronic auctions, as well as the ability to watch online auctions, contributed to the process of attracting a large number of investors and a qualitatively new phase of privatization. About 20 citizens have participated in the online auction online this year. Approximately 120 applications for privatization of state-owned property were carried out electronically. Totally, about 70 trades were held competitively.

One of the main tasks in our country is privatization of competitive enterprises in the regions to expand local production and re-establishing their activities on the basis of modern principles.

In the present stage, privatized state property is evaluated on the basis of purely market principles by independent appraisers and is aimed at selling through open auctions. It was noted that during the current year a total of 206 auctions were held, about 600 state-owned assets were privatized in stock companies, small state-owned enterprises, vehicles and other classifications.

The Privatization Portal, which allows for the acceleration of the privatization process, creates extensive opportunities for all investors to choose their real estate in accordance with their business portfolio.

In order to ensure participation of foreign investors in the process of privatization, forums are held regularly in foreign countries, propaganda and awareness-raising activities are carried out.

Speaking at the event, deputy head of the Executive Authority of Mingachevir Mahsula Javadova said that the recent growth of capital stock in the country, as well as in Mingachevir, the growth of capital invested by foreign and local entrepreneurs is an indication of the acceleration of privatization. It was noted that Mingachevir has wide opportunities and prospects for attracting investors and further development of this field. As a result of privatization, the economic potential of enterprises is increased, new jobs are created, employment levels are rising.

Farhad Osmanov, Head of the National Confederation of Entrepreneurship Organizations of Azerbaijan, noted that the process of privatization with simple and online procedures has increased the interest of investors in this field. Privatization auctions have facilitated the process.

Representatives of the State Committee on Property Issues Nurlan Verdiyev made a presentation on "Privatization and Investment Capabilities, Modern Approaches, Transparent and Electronic Procedures". The presentation was about new innovative methods used in the privatization process, rules for participation in auctions and competitions, and enterprises to be privatized. Entrepreneurs have received detailed information about about 40 enterprises privatized in Mingachevir and surrounding regions. Information on the business portfolio, economic indicators and position of the market in these enterprises was sent to investors. It was noted that 9 of these enterprises belong to the industry, 9 - production, 8 - services, 6 - construction, 4 - agriculture, 2 - poultry, 1 - tourism.

Innovative innovation, as well as the introduction of electronic auction of special model. It was noted that the principle of remote privatization is being implemented taking into account the principle of investors' work. The system enables access to trades from anywhere on the web.

The Memorandum of Cooperation was signed between the Committee and the Association of Hazelnut Producers and Exporters of Azerbaijan. The main purpose of the memorandum is to establish effective relations with the members of the Association, to involve them in the privatization of relevant sectors, as well as to formulate the database of these investors, conduct regular business meetings.

In the end, many questions concerning entrepreneurship related to privatization process were answered by the committee members. It was noted that such measures will be carried out by the State Committee for Property Issues in other economic regions in the future.