This article discusses plans of the #State Property Fund of Ukraine in relation to #privatization of #state owned companies, #modernization of existing and implementation of new #privatization regulations and sale of the largest state entities to #private investors.
Visit our website if you are interested in #doing business in Ukraine or looking for new #investment opportunities.
Head of the State Property Fund of Ukraine announced that in the upcoming years Ukraine will significantly increase the scope of privatization. He stated that the State Property Fund initiated amendment of privatization laws, regulations and programmes, which will lead to better governance and management over privatization process. This move is aimed at attraction of foreign investors to privatization in Ukraine.
Thus, there are around 450 entities to be privatized, including 30 large and 50 middle sized state owned companies. The State Property Fund of Ukraine aims to conclude privatization within three to five years. Use of respective practices and experience of other countries, such as Singapore, Sweden, Kazakhstan, etc., shall facilitate the process.
Head of the State Property Fund of Ukraine also stated that in July the Fund aims to finalize transaction on sale of 99.6% of shares of Odesa Port Plant.
Earlier, 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.