PM Shmyhal kick-starts mass privatization in Ukraine

4 August, 10:13 PM
Prime Minister of Ukraine Denys Shmyhal (Photo:Денис Шмигаль / Facebook)

Prime Minister of Ukraine Denys Shmyhal (Photo:Денис Шмигаль / Facebook)

Ukraine's PM Denys Shmyhal said during a conference call with regional leaders on Aug. 3 that mass privatization should start in Ukraine on Sept. 1.

Ukraine's PM Denys Shmyhal said during a conference call with regional leaders on Aug. 3 that mass privatization should start in Ukraine on Sept. 1.

"The President of Ukraine has set the task of starting privatization from September,” Shmyhal said.

“To this end, the Verkhovna Rada has adopted the relevant legislation, and the government has developed all subordinate regulatory acts. We must make this process as fast as possible.”

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The official added that the Cabinet is launching grant programs to motivate businesses and people to create jobs as much as possible.

"Small-scale privatization, especially in regions where people in villages and towns know about facilities that have been standing (idle) for years (or) are inefficiently used, is designed to provide an opportunity to buy these premises at a fair price and start work," Shmyhal said.

He said that privatization will allow farmers to increase production.

According to the prime minister, at the beginning of September, it is planned that auctions for grain elevator capacities and bread production plants will be announced. He added that market operators, seeing the capacity deficit, will be able to participate in these tenders.

The Ukrainian parliament on July 28 adopted at second reading and as a whole a bill on amendments to the law on privatization.

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