On March 30, the Verkhovna Rada adopted in the second reading and in general draft law No. 4543 on the resumption of auctions for the sale of large-scale privatization objects. It was supported by 257 MPs.

The document stipulates that the State Property Fund will again be able to sell state property worth more than UAH 250 million. The SPFU will engage special advisers who will prepare the objects for large-scale privatization and look for potential investors to hold the auction.

“Transparent and honest privatization is effective and necessary for the country. The threat of punishment will not save state-owned companies from violations in the disposal of funds or property. And corporate governance reform will not completely eliminate the risk of possible political influence. In most cases, only the sale of state-owned companies and their property can help reduce corruption and its risks in the public sector of the economy,” says TI Ukraine’s expert Khrystyna Zelinska.

We remind you that in spring of 2020, due to the COVID-19 epidemic, Ukraine suspended large-scale privatization until stabilization of the situation on global markets. In September, the Parliament upheld a moratorium on large-scale privatization until the end of quarantine.

On February 4, 2021, MPs supported the draft law in the first reading.