ARMA suggests that foreign investors be allowed to manage seized assets
The relevant statement was made by ARMA’s press service, following a working meeting between the top managers of the agency and the U.S.-Ukraine Business Council (USUBC), an Ukrinform correspondent reports.
“We are initiating legislative changes to enable foreign companies to apply for our transparent competitions for the selection of a seized property manager,” ARMA Head Olena Duma noted.
In her words, the agency is interested in attracting effective managers to preserve the seized assets and ensure their effective operation to increase state budget revenues through quality management.
According to Chairman of USUBC Executive Committee and Director of Global Business Development and Special Projects at Amsted Rail Eric Luhmann, American businesses are currently interested in investing in Ukraine’s economy through the management of the seized assets, which are listed during ARMA’s open competitions. However, participation in the competitions often ends unsuccessfully for foreign companies due to the legal regulation that obliges foreign companies to have a representative office in Ukraine.
ARMA mentioned that partners had expressed interest in further cooperation.
A reminder that the Ukrainian Asset Recovery and Management Agency (ARMA) generated UAH 44.6 million in state budget revenues from the management of assets in March 2024, which is UAH 6.6 million higher compared to February 2024.
Photo: ARMA
