Photo from UNIAN
Ukrainian President Petro Poroshenko says privatization in Ukraine will attract foreign investors and effective owners, which will accelerate the country's economic growth and reduce corruption in the public sector, according to his Twitter account, referring to the president's speech at a meeting of the National Reforms Council.
"Privatization is important not only in terms of money, but also efficient ownership, which will guarantee economic growth. The growth of foreign direct investment is as necessary as the breath. The time when we survived only due to borrowings is over. Privatization is also an important element of Ukraine's anti-corruption strategy," Poroshenko said.
As UNIAN reported earlier, according to the memorandum on cooperation with the International Monetary Fund, Ukraine had to take all necessary measures to attract international investors and sell the Odesa Portside Chemical Plant (OPP) in the first half of 2017. In addition, the government planned to initiate the privatization of turbine manufacturer Turboatom, energy company Centrenergo, and state-owned distillery Ukrspyrt before the end of September 2017.
Read alsoNational Reform Council supports easing of privatization rulesThe government of Ukraine postponed a large-scale privatization campaign until the adoption by the Verkhovna Rada of a new law on privatization, which could be considered in September.
Deputy Head of the State Property Fund Yuriy Nikitin said that in the best case, the OPP's privatization would be possible late in 2017, whereas a controlling interest in Centrenergo might be sold in the middle of 2018.