International partners to help Ukraine find investors for large-scale privatization

The head of the State Property Fund, Rustem Umyerov, discussed with the G7 and EU ambassadors the start of large-scale privatization and the issue of improving corporate governance.

This was reported by the Fund’s press service on Facebook, Ukrinform saw.

"The Fund and G7 representatives will jointly work on improving corporate governance and the start of large-scale privatization... International partners support the start of large-scale privatization and are ready to facilitate pitches to the business communities in their countries. The search for strategic investors for these is an opportunity for their development and a path to leadership in the world market," the statement reads.

According to the Fund’s press service, the first assets to be put up for privatization will be the Odesa Portside Plant, the United Mining and Chemical Company, and Centrenergo.

Another topic of discussion during SPF chief Rustem Umyerov’s meeting with G7 and EU ambassadors was the reform of corporate governance, within which OECD principles are being implemented in Ukraine, which will contribute to the transparent selection of supervisory boards.

As reported earlier, work on the draft law on amendments to certain legislative acts on improving the corporate governance of legal entities where the government is shareholder (founder, participant) (No. 5593-D) is a priority for the Ministry of Economy for the next two to three months. Its purpose is the implementation of OECD corporate governance principles: defining a clear concept of state ownership policy, strengthening the role of the supervisory board in managing enterprises, etc.