Ukraine on the Path of Privatization

Kyiv, May 16, 2018

The American Chamber of Commerce in Ukraine jointly with Chamber Member Company INTEGRITES held Round Table “Ukraine on the Path of Privatization”.

The event was aimed to discuss the current state of privatization reform as well as identify further steps that are important for improving the investment climate and simplifying the privatization process.

The participants discussed the following issues: the state of the development of bylaws for the full implementation of the Law of Ukraine "On Privatization of State and Communal Property"; expectations of investors on the implementation of privatization reform; privatization in the eyes of International Financial Institutions and private investors; interest of foreign investors state-owned enterprises from Privatization List, approval of the list of strategic enterprises that cannot be privatized.

Among keynote speakers of the panel discussion were: Sevki Acuner, Country Director for Ukraine, European Bank for Reconstruction and Development, Vice Chairman of the Board of Directors of the American Chamber of Commerce in Ukraine; Andy Hunder, President of the American Chamber of Commerce in Ukraine; Volodymyr Omelyan, Minister of Infrastructure of Ukraine; Vitaliy Trubarov, Acting Head of the State Property Fund of Ukraine; Maxym Nefyodov, First Deputy Minister of Economic Development and Trade of Ukraine; Yuliia Kovaliv, Head of the Office of the National Investment Council under the President of Ukraine.

“A transparent privatization process is a powerful signal to investors. The American Chamber of Commerce in Ukraine supports the open and transparent reform of the state-owned enterprises. Accelerating this process is crucial for Ukraine's economic growth and investment attractiveness. This will help increase the efficiency of state-owned enterprises, create new jobs, increase revenues to the state budget, and eliminate corruption", commented Andy Hunder, president of the American Chamber of Commerce in Ukraine.

"Currently simple and effective privatization is one of the priorities on the Ukrainian agenda, which is a homework for us as for further integration into the world economic space. Therefore, one of the 5 Steps for Ukraine’s Sustainable Economic Recovery developed by the American Chamber of Commerce in Ukraine is to carry out for qualitative implementation of the privatization reform. The new Law of Ukraine "On Privatization of State and Communal Property", which entered into force on March 7, is very progressive. It is aimed at real large-scale privatization of public facilities and aims to attract large international investors. The advantage of the Law is the introduction of clear and simple rules of privatization and subordination of agreements on privatization of foreign law and international arbitration, which is undoubtedly a big step forward that should improve the investment attractiveness of Ukraine"- said Oleksiy Feliv, Managing Partner of INTEGRITES, Co-Chair of the Chamber Infrastructure Committee.

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About the American Chamber of Commerce in Ukraine

The American Chamber of Commerce in Ukraine is a non-government, non-profit business organization operating in Ukraine since 1992. The Chamber represents over 600 Member Companies and affiliated parties. It cooperates closely with Ukrainian authorities to improve the business environment and attract foreign investments into the economy, advocates for predictable, transparent, equitable and stable rules of doing business.

For more information, please contact:
Tetiana Kravchuk
, Communications Coordinator, American Chamber of Commerce in Ukraine
+38 050 299 3201, tkravchuk@chamber.ua