PM Shmyhal: Ukraine uses global best practice to reform state-owned enterprises

Ukraine uses global best practice to reform the management of state-owned enterprises.

Prime Minister Denys Shmyhal stated this during an online meeting with members of the Committee for the Appointment of Heads of Enterprises of Critical Importance for the Economy, which was held on November 3, the Government portal reports.

"Our task: to improve the management of state-owned enterprises is one of the goals of the Government's Action Program for this year and for the long-term strategic perspective. We rely on global best practice, which will bring significant benefits to the Ukrainian economy," said the prime minister.

Shmyhal stressed that the Ukrainian government continues implementing corporate governance reform. In particular, it is coopering with the EBRD and Organization for Economic Co-operation and Development (OECD) to finalize a bill to improve corporate governance in the public sector.

The meeting also addressed the issue of voluntary liability insurance for managers and members of supervisory boards of state-owned enterprises. The Economy Ministry will soon represent a draft resolution regulating this issue.

Among the participant in the online meeting were Committee Chairman Jason Pellmar, EBRD Managing Director for Eastern Europe and the Caucasus Matteo Patrone, IMF Resident Representative in Ukraine Goesta Ljungman, Business Ombudsman of Ukraine Marcin Święcicki, Minister of Economic Development, Trade and Agriculture Ihor Petrashko, Minister of Finance Serhii Marchenko and others.

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