Ukraine to launch large-scale privatization from September 1 – PM Shmyhal

Ukraine will launch a large-scale privatization from September 1, 2022.

Prime Minister Denys Shmyhal announced at an online meeting with regional heads, Ukrinform reports with reference to the Government portal.

“The President of Ukraine set the task to launch privatization from September. For this purpose, the Verkhovna Rada adopted the relevant legislation and the government developed all subordinate regulations. We have to make this process as fast as possible," said the head of the government.

At the same time, according to Shmyhal, the state is launching grant programs to motivate businesses and people to create jobs.

"Small-scale privatization, especially in regions where people in villages and towns know about facilities remaining idle for years or inefficiently used, is intended to provide an opportunity to buy these premises for a fair price and start work," the prime minister emphasized.

"Small-scale privatization, especially in regions where people in villages and towns know about facilities that have been standing idle for years and are inefficiently used, is intended to provide an opportunity to buy these premises for a fair price and start work," he said.

It is noted that privatization will also provide an opportunity to expand production for farmers. The Ministry of Economy reported that in early September, according to the schedule, auctions will be announced for elevator capacities and bread processing factories. Market operators who see capacity shortages will be able to participate in these tenders.

As reported, privatization procedures in Ukraine will now last 25 days instead of 100, and relevant documents can be signed online.

On July 28, the Verkhovna Rada adopted a law designed to accelerate privatization processes during martial law. In addition, the Verkhovna Rada excluded a number of state-owned enterprises from the list prohibited for privatization.

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