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The Government Will Start Large-Scale Privatization in September

Starting from September, the Government will resume the privatization of state-owned enterprises, which was suspended during the martial law period and unblocked with the adoption of bill No. 7451. In July, the Government approved a list of 420 objects after the triage procedure – sorting into those that will remain in state ownership, those that will be directed to the State Property Fund of Ukraine for privatization, and those that will be liquidated. 

“We transferred 65 enterprises to the State Property Fund in July of this year. Over the past 4 years, the Fund has received 500 objects for privatization. We will continue to triage enterprises in order to transfer the maximum number of objects for privatization. We will start from September with distilleries and bread factories. We already have a certain schedule for the transfer of objects throughout Ukraine,” said Yuliia Svyrydenko, First Vice Prime Minister – Minister of Economy of Ukraine. 

Privatization will be on simplified terms. Private entrepreneurs will be able to buy out integral property complexes, including those burdened by long-term property seizures (in this case, the buyer is also obliged to repay previously accumulated debts).

Security payments will also increase, and the payment for an asset will be made before entering into the sales and purchase agreement. 

The privatization process from the announcement of the auction to the signing of the agreement will take no more than two months. If only one participant is registered in the auction, they can buy out the object at the price offered by them, but not lower than the starting price. If there are no buyers the first time, then repeated auctions will be allowed. A step-by-step reduction of the starting price will be allowed, but not more than by 50%.

All permits and licenses of an enterprise will be kept for the new owners of integral property complexes. 

We remind you that in July, the Government approved the list of 420 state-owned enterprises which will be transferred to the management of the State Property Fund for further privatization and liquidation.

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