PM Shmyhal instructs to speed up small-scale privatization, launch large-scale

Prime Minister Denys Shmyhal instructed the State Property Fund to speed up small-scale privatization and launch a large-scale one.

This was discussed at the meeting of the Prime Minister with representatives of the Ministry of Economy and the State Property Fund, Ukrinform reports with reference to the Head of Government's Telegram channel.

"This year, the State Property Fund faces the task of continuing small-scale privatization and launching a large-scale one. I also instructed the Ministry of Economy and the State Property Fund, together with the Ministry of Digital Transformation, to create a single database of state-owned enterprises and their legal entities-owners," Shmyhal noted.

According to him, more than 3,000 objects are under state management. 109 are defined as strategic and will not be subject to privatization. More than 600 enterprises working in the field of energy, transport, and military-industrial complex will remain under state management until the end of martial law.

"In the future, we will implement corporatization reform in critically important companies to increase their efficiency. This is one of the markers of compliance with the OECD criteria," the Prime Minister emphasized.

At the same time, Shmyhal drew attention to the fact that more than 1,900 objects have already been transferred to the State Property Fund.

"I gave the task to speed up the transfer of other enterprises. These are potential projects for investors, added value, new jobs. For this, such objects should be put up for transparent electronic auctions in the future," he stressed.

As reported, the State Property Fund and G7 representatives will work together to improve corporate governance and launch large-scale privatization.

On July 18, the Cabinet of Ministers approved the procedure for holding electronic auctions.

Photo: Denys Shmyhal / Telegram