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The Government Has Accelerated the Transfer of Management of State-Owned Enterprises to the State Property Fund for Further Privatization

The Government has changed the procedure for transferring the management of unified (integral) property complexes of enterprises, institutions, organizations that are not included in the list of objects that are not subject to privatization, and do not belong to objects that must be owned by the state, to the State Property Fund.

Now the initiative to transfer such objects may belong not only to the authorities that manage them, but also to the Cabinet of Ministers, the Ministry of Economy and the State Property Fund.

The Ministry of Economy will draft the relevant Government decisions, agree them with the Ministry of Finance and the State Statistics Service within three days, and submit to the Cabinet of Ministers for consideration within seven days.

If the authority managing the asset does not agree to the proposals for the transfer of the object within the prescribed period, they will be transferred to the Government without its approval.

“Today, business and the state are interested in accelerating privatization as much as possible. This will allow entrepreneurs to become owners of new assets, launch production, create jobs, establish product processing, and enter foreign markets. Previously, bureaucratic procedures significantly delayed the process of transferring objects from the scope of responsibility of individual state institutions to the management of the Fund. Now we remove these obstacles. The object will be taken over by the State Property Fund as quickly as possible, with its further preparation for an open and competitive auction. As a result, in a relatively short period of time, for the abandoned inoperative assets, we will find private investors who will give them a new life,” First Deputy Prime Minister - Minister of Economy of Ukraine Yulia Svyrydenko stressed out.

We remind that as part of small-scale privatization in 2022, the state plans to find owners for at least 150 enterprises.

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