Privatization of state-owned enterprises will be resumed in Ukraine

In the second reading, the Verkhovna Rada supported draft law No. 7451, which will allow for the restoration of privatization of state-owned enterprises, as well as facilitate the relocation of enterprises from regions where hostilities are ongoing.

The head of the Servant of the People party, Olena Shulyak, noted that thanks to privatization, those state assets that are in Ukraine and are currently decaying and idle without proper use, will be able to privatize and modernize businesses from regions where hostilities are currently taking place. So, for example, privatization can help relocated enterprises find premises, restore and develop business.

Among the important changes in the draft law regarding the privatization of state and communal property:

• auctions for the sale of objects of large privatization and their redemption are not held;
• objects in the combat zone or close to it are not privatized;
• The State Property Fund monthly submits to the Council committee information on designated electronic auctions, the results of the sale of state property and proposals for legislation;
• documents for participation in the electronic auction are submitted in electronic form;
• information about each auction participant is anonymous;
• the starting price of the object is at the level of the book value;
• the size of the guarantee fee at electronic auctions of small privatization objects: 10 amounts of minimum wages — for objects whose starting price is from one to 500 thousand hryvnias; 10% of the starting price of the privatization object — for objects whose starting price exceeds 500,000 hryvnias.