About 100 state-run companies shut down in Ukraine annually – economy ministry

"About 100 state-run enterprises cease their operation annually. Therefore, to reverse this trend, the government has developed bill No. 7066, which will legislatively establish rules for transparent and profitable privatization for all parties," the ministry wrote on Facebook.

Read alsoPrivatization-2018: UAH 22 bln expected from sale of state propertyAs UNIAN reported earlier, there are about 3,500 state-run companies in Ukraine. Their net profit in 2016 totaled UAH 39.6 billion (US$1.5 billion). Ukraine's top 100 state-owned companies posted UAH 26.4 billion ($1 billion) in profit in 2016, including UAH 22.5 billion in profit (85%) posted by gas giant NJSC Naftogaz of Ukraine, according to the ministry.

The new bill on privatization, which simplifies the procedure for the sale of state-owned assets, is included in the agenda of Ukraine's Verkhovna Rada on November 9.