The President of Ukraine calls for intensifying of privatization and deregulation

Invest in Ukraine: The President of Ukraine calls for intensifying of privatization and deregulation

This article deals with the #initiatives of the #President of Ukraine to intensify #privatization of the #state owned entities and #deregulation processes in Ukraine.

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

Mr. Petro Poroshenko, the President of Ukraine, urged the Government and Parliament of Ukraine to intensify the privatization and deregulation processes by adoption of new laws and regulations.

Thus, the President said that he expects that the Parliament of Ukraine will increase the number of state entities which are subject to privatization. Such increase shall be made by exclusion of more than 400 entities in the transport, energy and agriculture sectors from the list of companies which are prohibited for privatization. The appropriate draft law has been already registered in the Parliament.

The President also stated that the investors from Southeastern Asia are particularly interested in the state privatization.

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. There are around 450 entities to be privatized, including 30 large and 50 middle sized state owned companies. However, as of now only USD 42 has been acquired through privatization. The State Property Fund of Ukraine aims to conclude privatization within three to five years.

In addition, the President pointed out the need to intensify deregulation process in Ukraine. Mr. Poroshenko said that currently there are 39 deregulatory laws are being considered by the Parliament, including five of them being preliminary approved. He expressed hope that the Parliament will commence consideration of these laws as soon as possible in the upcoming session. The President also pointed out that during last two years doing business in Ukraine improved significantly: the respective time for establishment of business presence in Ukraine decreased following abolition of approximately 40% of previously required documentation. Furthermore, the number of required permits for various types of business activities was reduced from 143 to 84.

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