There are plans to create a holding company to manage state-owned enterprises / Photo from UNIAN
Ministry of Economic Development and Trade submitted to the Verkhovna Rada a bill on the corporatization of state-owned companies, which is to be assessed by the parliamentary committee on economic policy this Wednesday, according to Aivaras Abromavicius, Ukraine's Economy Minister.
“The bill on the corporatization of state-owned companies has been submitted to the Verkhovna Rada, and next Wednesday, we will defend it in the Committee [on economic policy]," Abromavicius said at the presentation of the book of the Swedish economist, senior research fellow at the Peterson Institute Anders Aslund named "Ukraine: What went wrong and how to fix it."
Read alsoEBRD remains a believer in Ukrainian investment: Kyiv PostAccording to the Minister, in the case the Parliament passes the bill, independent boards of directors will be set up in the state-owned companies, and these companies will be subject to external audit, while the evaluation of management quality will depend on the companies’ operating and financial performance.
Read alsoEconomy Ministry: ten potential buyers for Odesa port plantAs UNIAN reported earlier, the Cabinet of Ministers of Ukraine planned to set up a holding company to manage the state-owned enterprises, or to transfer this function to a specially created state body.
The final decision on the form of centralized management will be made after the analysis by the Ministry of Economic Development and Trade, which should be completed before the end of September 2015.
Ministry of Economic Development also intends to submit legislative initiatives aimed at accelerating the process of corporatization of state-owned companies, simplification of bureaucratic procedures to change their leadership, as well as ensuring full disclosure of financial and operating information.