Ukrainian President Volodymyr Zelensky has assured that Ukraine will continue its large-scale privatization campaign.
Read alsoUkraine's government expands list of large SOEs to be put up for saleHe made the comment at the All-Ukrainian Forum, titled "Ukraine 30. Small- and Medium-sized Businesses and the State" held on March 18.
"We've launched a large-scale privatization [campaign] in Ukraine, which was slowed a little due to COVID-19. But we definitely know that we'll continue this process, which is very important for the country and businesses, getting rid of the dead weight, which brought only losses to the country and, unfortunately, corruption to Ukraine," Zelensky said.
Large-scale privatization campaign: Background
- In January 2020, the State Property Fund of Ukraine published a list of enterprises to be offered for a large-scale 2020 privatization campaign, which included 11 enterprises in the energy sector.
- In addition, the government plans to sell the United Mining and Chemical Company, the Krasnolymanska Coal Mining Company, Azovmash (the management company of Ukraine's leading heavy engineering group), and Electrotyazhmash (manufacturer of turbines and hydrogenerators). Such chemical producers as Sumykhimprom, Odesa Portside Chemical Plant, Oriana, and Indar (insulin production) are on the list. President Hotel and Ukragroleasing (leasing out farming equipment) are also included.
- On October 29, 2020, the Cabinet of Ministers canceled the transfer of part of state-owned enterprises for sale.
- At the end of 2020, the Cabinet proposed that the Verkhovna Rada, Ukraine's parliament, unblock this procedure.