The wide range of opportunities enabled by the State Service for Property Issues under the Ministry of Economy of Azerbaijan to attend the privatization of state-owned property is aimed at accelerating the process and attracting investment.

In 2021, 59 auctions took place. 16 joint-stock companies’ share packages, 35 small state-owned enterprises, 4 unfinished buildings and 249 vehicles were privatized at the auction.

The introduction of innovations and electronic methods, further simplification of procedures led to an increase in the efficiency and satisfaction of citizens in the privatization process. Last year, 93 e-orders were received for state-owned property put up for auction, and 40 online connections were made to participate in the auction through the software "Electronic Auction".

In order to more efficiently use the subsoil, in 2021, for the first time, 29 mineral deposits were put into operation at auctions.

Among the progressive methods of privatization of state property is an investment bidding. Last year, an investment bidding was held for the sale of state shares and interests of 4 enterprises, resulting in a transfer of more than 10 million manats to the state budget. Investors pledged to implement investment programs worth about 18 million manats and pay off the debts of enterprises to the state budget for taxes and social contributions.

Note that in previous years, about 21.3 million manats were invested in enterprises in 2021, including enterprises privatized through an investment bidding.

Revenues to the state budget from privatization in 2021 totaled to 112.7 million manats, and the annual forecast was fulfilled by 101.6%, which is 51.2 million manats or 83.2 percent more than in 2020.