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Azerbaijan: Privatization
Country Study > Chapter 6 > The Economy > Economic Reform > Privatization


From the earliest days of Azerbaijan's independence, the country had a vigorous, small-scale private economy whose most urgent need was unambiguous legislation that would legitimize its operations and allow expansion. A privatization law passed in January 1993 was not implemented fully in the year following. Privatization plans envisioned sales, auctions, and joint stock enterprises. Small retail establishments would be privatized by auction, and medium-sized and large enterprises would be privatized by a combination of auctions and joint stock programs. Retail establishments were supposed to be privatized fully by the end of 1993, but this goal was not met. Housing was also to be privatized by transferring ownership to the present tenants. At the end of 1993, land redistribution was stalled by disagreement over the choice between private ownership and long-term leaseholding; over optimum terms for either of those arrangements; and over the distribution of agricultural equipment.

Data as of March 1994

Last Updated: March 1994

Editor's Note: Country Studies included here were published between 1988 and 1998. The Country study for Azerbaijan was first published in 1995. Where available, the data has been updated through 2008. The date at the bottom of each section will indicate the time period of the data. Information on some countries may no longer be up to date. See the "Research Completed" date at the beginning of each study on the Title Page or the "Data as of" date at the end of each section of text. This information is included due to its comprehensiveness and for historical purposes.

Note that current information from the CIA World Factbook, U.S. Department of State Background Notes, Australia's Department of Foreign Affairs and Trade Country Briefs, the UK's Foreign and Commonwealth Office's Country Profiles, and the World Bank can be found on

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