Almost UAH 59 million in investments is the result of privatization auctions during the current week (October 9-13).

The most significant auction of the week was the sale of the State Institute for the Design of Mining and Ore Industry Enterprises, known as "Kryvbasproekt." Despite only two entrepreneurs competing for the asset, its value nearly doubled to UAH 54,3 million. In addition to the winning bid, the investor must pay UAH 10,9 million in value-added tax (VAT).

"Kryvbasproekt" provides engineering services, including project cost estimation and expertise. The company has been operating at a loss recently, with losses of UAH 5,5 million in 2022 and UAH 1,4 million for the first half of 2023.

The highest interest in purchasing an asset was seen at the privatization auction for a real estate complex in the center of Malyn, located in the Zhytomyr region. Twenty-three entrepreneurs competed for it. The value of the asset increased by nearly 1,400 times, from a starting (balance) price of UAH 1,100 to a winning bid of UAH 1,5 million.

Privatizing unprofitable or neglected state assets offers the opportunity to attract private investments for economic development, utilize modern technologies, create new jobs, and generate additional tax revenue.

Since the resumption of privatization in September 2022, over UAH 4 billion has been contributed to the state budget, significantly supporting the Armed Forces.