The Ministry of Economy is working on legislative changes that will open up the possibility of selling stakes in large state companies. This was announced by the head of the ministry, Oleksiy Sobolev, who noted that this will be a new step in the privatization process.
This is reported by Finway
Legislative initiatives to attract investments
According to the minister, preparations are currently underway for the sale of stakes in several large state enterprises. To implement this initiative, changes need to be made to the existing legislation, as it does not yet fully meet the requirements for such a process. The ministry has already prepared the necessary amendments and is actively collaborating with parliament for their prompt implementation.
“We are currently preparing for a new phase, looking to sell stakes in large state companies. We have not done this before, the legislation is not fully ready, and we need to make minor changes to several laws to make this possible,” he said.
Debt issues and expected outcomes
Oleksiy Sobolev emphasized that one of the main barriers to implementing privatization remains the significant debts of some state companies. Addressing this issue is critically important for preparing the enterprises for sale. The proposed legislative changes will allow for increased revenues from privatization, as the budget currently anticipates revenues in the billions of hryvnias, while the state’s financing needs are significantly higher and estimated in the billions of dollars.
At the same time, the minister stressed that at this moment, a final list of state companies whose stakes may be put up for sale as part of large-scale privatization has not yet been formed. Work on this issue is ongoing.