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Ukraine to continue privatization amid war

Photo: rada.gov.ua

The adopted bill would allow the sale of state-owned enterprises to continue during wartime, the process simplified.

The Verkhovna Rada at a meeting on Wednesday, July 28, with 233 votes adopted a bill to simplify privatization, reports MP Yaroslav Zheleznyak.

The approved bill No. 7451 allows the continuation of privatization, which has been stalled due to the military invasion of Russia.

The bill proposes to speed up privatization. Thus, privatization from the moment the auction is announced to the signing of the contract will take no more than two months, and all information about privatization matters will be available online.

The preparation of objects for privatization is reduced and simplified (without audit, inventory, property assessment) and the tender process is accelerated.

Payment for the asset will be made before the conclusion of the sale and purchase agreement, which should be an additional guarantee of the fulfillment of the buyer’s obligations.

Also, the mandatory renewal of all licenses and permits after the purchase of an asset is removed, which can significantly reduce the time required to launch it by a new owner.

Recently, the Cabinet of Ministers approved a list of 420 state-owned enterprises that will be transferred to the management of the State Property Fund for further privatization and liquidation.

Recall that privatization in 2021 brought the highest amount of funds in 10 years. Last year, the state budget received UAH 5.1 billion.

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Source: korrespondent

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