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150 State-Owned Enterprises Will Be Privatized By the End of 2022 – Proceeds Will Be Used to Support the Armed Forces

As part of “small privatization” in 2022, the state expects to find owners for at least 150 enterprises. The proceeds will be directed to the needs of the Armed Forces of Ukraine.

This was announced by the First Vice Prime Minister – Minister of Economy of Ukraine Yulia Svyrydenko during the national TV marathon.

“In September, a new wave of small privatization will start in Ukraine. Our strategy is stable – to reduce the role of the state in the management of enterprises. We will also accumulate economic resources to accelerate our victory. Privatization will help revive business activity, open the way to investments, and provide Ukrainians with jobs. Today, more than 3,000 enterprises are state-owned, of which 1,800 are not engaged in economic activity. We expect that new private owners will be able to restart them”, noted the minister.

As part of small privatization in 2022, the state will find investors for at least 150 enterprises, and the funds raised will be directed to support the Armed Forces.

Bidding will start at the book value of the asset, and final price will be determined during the auction. Bakery plants and distilleries are among the most promising facilities for privatization.

“Small privatization will start from them, the first auctions have already been announced. The list of privatization assets will be supplemented by those enterprises that are currently under the management of the ministries”, said the First Deputy Prime Minister – Minister of Economy.

She also reminded that “small privatization” will now take place according to new rules, subject to legislative amendments.

“The new rules determine that integral property complexes are privatized. At the same time, creditors receive guarantees of the return of their funds. The terms of privatization have been shortened. This is important for potential owners. We also keep all permits and licenses of integral property complexes for new owners. Guarantee fees are increasing, and payment for the asset will take place immediately after the auction. This will make it impossible to try to delay the privatization process through the courts.

As a result, we will get an effective owner who will preserve the company’s profile, jobs, invest funds and develop the business”, said Yulia Svyrydenko.

We would like to remind that the Government has changed the Procedure for conducting electronic auctions for the sale of small privatization facilities and determining additional terms of sale. Now it has been brought into line with the Law of Ukraine “On Privatization of State and Communal Property”.

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