Privatization in Ukraine

Invest in Ukraine: Privatization in Ukraine

This article discusses #privatization of ‘Centerenergy’ company as well as describes volumes of privatization process in #Ukraine in 2016.

Visit our website if you are interested in #doing business in Ukraine or looking for new #investment opportunities.

The State Property Fund of Ukraine announced its plans to conduct an auction on privatization of 78.9% of shares of ‘Centerenergy’ company. The auction is scheduled to take place in November 2016. Prior to the auction the Cabinet of Ministers of Ukraine shall determine conditions of sale and initial bid price.

We note that in accordance with the state budget of Ukraine it is expected to attract over USD 17 billion through privatization process in 2016. As of January 2016, there are over 4000 enterprises in which the state has its share. Such enterprises are active in construction, energy, agriculture, chemistry and transport industries.

In addition, the electronic system of privatization auctions is due to launch in Ukraine during spring 2016.

We note that earlier this year the Cabinet of Ministers of Ukraine published its resolution, which approves a roadmap for facilitation of doing business in Ukraine. As expected, following implementation of measures included in the programme, in 2017 Ukraine will enter into top-50 and in 2018 into top-20 countries of the World Bank Doing Business ranking. In addition, recently the Cabinet of Ministers of Ukraine published its action plan for 2016. The document includes 379 positions grouped in four sections, namely ‘Independent European state’, ‘Decentralization as strategy of national development’, ‘Care for everyone’ and ‘Favourable conditions for doing business’.

According to the programme, throughout 2016 Ukraine must implement the following measures: to create online service of registration of legal entities via Internet; to establish registration as VAT taxpayer simultaneously with registration of the legal entity; to expand possibilities of alternative dispute resolution; to impose limitation on the number of times and terms for adjournment of a court hearing; to provide a real time access to the State register of encumbrances over movable property; to adopt the law on protection of minority shareholders; and to lower down the number of days required for obtainment of the certificate of origin.

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