Government plans to develop regulations for state-owned enterprises
Kyiv • UNN
The Ukrainian government is developing a state ownership policy to determine which enterprises should remain in state ownership and which should be privatized, in accordance with the Law on Improving Corporate Governance.
In accordance with the provisions of the Law on Improving Corporate Governance in Ukraine No. 3587-IX, the government is developing a State Ownership Policy that will determine the feasibility of a particular enterprise being in state ownership. This was reported by the Ministry of Economy of Ukraine, UNN writes.
Details
According to Yulia Svyrydenko, First Vice Prime Minister and Minister of Economy of Ukraine, the ministry is working on the State Property Policy, as provided for by the law "On Amendments to Certain Legislative Acts of Ukraine on Improving Corporate Governance.
For the first time, this document will officially establish the answer to the following questions: why the state needs certain companies, how it can triage and transfer all inefficient and unprofitable property for privatization, and which companies are strategically important for the state to retain in its ownership and introduce high standards of corporate governance
First of all, the state is considering the option of reserving the right to own assets that ensure energy independence, development of the military-industrial complex and space industry, and stability in the banking sector. This may also include control over critical natural monopolies or resources. It can also include specific services or ensuring that citizens have access to opportunities outside of market conditions. For example, public broadcasting. This is a preliminary vision.
Recall
Law No. 3587-IX was adopted by the Verkhovna Rada of Ukraine on February 22, 2024. The President signed it on March 5. The improvements envisaged by the document can transform state-owned enterprises into companies that will be able to attract investments in larger volumes and on more favorable terms.
