Ukraine to sell all but 300 state-owned enterprises: PM

Xinhua News,KIEV
2020-08-13 04:23

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KIEV, Aug. 12 (Xinhua) -- Only 300 of the more than 3,000 state-owned enterprises are to remain in state management, while others will be subject to privatization, Ukraine's Prime Minister Denys Shmyhal said on Wednesday.

"There are more than 3,000 state-owned enterprises in Ukraine, and not a single Ukrainian government has been able to effectively manage such a large number of enterprises... That is why we are now in the final stages of drafting a bill that will determine the list of facilities to remain under state control. Our strategy is to leave about three hundred companies," said Shmyhal during a government meeting on Wednesday.

Shmyhal added that the enterprises working in the national security, energy, natural monopolies fields, and the enterprises of social importance would continue to be state-run.

On March 7, 2018, a law on privatization came into force in Ukraine, aimed at simplifying the procedure for transferring state property to private hands, fighting corruption and strengthening the protection of investors' rights.

The document divides all objects of denationalization into two groups. The first includes objects of small privatization - assets of state and municipal property, the value of which does not exceed 250 million hryvnia (9 million U.S. dollars). The second group includes assets worth over 250 million hryvnia, which are called objects of large-scale privatization.

Over the past two years, auctions for the sale of small-scale privatization objects, held through the electronic platform ProZorro.Sale, have brought Ukraine over 2.5 billion hryvnia (90.6 million U.S. dollars).
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