President of the Republic of Azerbaijan Ilham Aliyev has signed an order "On measures to attract private investment in state-owned enterprises of the Republic of Azerbaijan".
According to the order, "A list of state-owned enterprises in which private investments are supposed to be attracted" has been approved.
The Ministry of Economy, in coordination with the Ministry of Digital Development and Transport of the Republic of Azerbaijan and the Azerbaijan Investment Holding, should ensure the involvement of reputable international consulting companies funded by state-owned enterprises provided for in the list approved by this order. In addition, based on the analysis, they should submit to the President of the Republic of Azerbaijan within nine months their proposals on the following:
- restructuring and rehabilitation of state-owned enterprises;
- assessment of state-owned enterprises, the optimal ratio of their obligations and authorized capital and investment needs;
- the circle of potential investors;
- opportunities for liberalization and demonopolization, taking into account the requirements of the competitive environment of the relevant market;
- the possibility of transferring other activities incompatible with the main activity to the private sector by determining the main activity of state-owned enterprises subject to state control;
- changing the organizational and legal form of state-owned enterprises, their transferred parts and ways of implementing the share of state participation in shared construction, as well as improving the existing regulatory framework by determining the directions of using the financial resources received as a result of the implementation of the measures provided for by this order.
The Cabinet of Ministers of the Republic of Azerbaijan has been instructed to resolve issues arising from this order.