Dmytro Sennychenko: The State Property Fund is waiting for unblocking of large privatization to attract sustainable investments

On March 11, Dmytro Sennychenko, Chairman of the State Property Fund, has took part in a roundtable discussion at which a necessity of adopting in second reading bill No. 4543 on unblocking large privatization was discussed.

A roundtable was also attended by Svitlana Panaiotidi, Deputy Minister for Development of Economy, Trade and Agriculture of Ukraine, Deputies Roksolana Pidlasa and Oleksii Movchan, media representatives and members of leading business associations.

According to the Chairman of the Fund Dmytro Sennychenko, the plan for State Budget revenue for 2021 from privatization is set at UAH 12 billion. But the fulfillment of this task directly depends on unblocking of auctions for large privatization, which will ensure an income of UAH 9 billion.

“In 2020, the State Property Fund held about 1,900 privatization auctions in accordance with new rules and transparent procedures, exceeded the plan and transferred about UAH 3 billion to the State Budget. It shows that investors are ready to actively participate in privatization. Therefore, we are waiting for the adoption in second reading of the bill on unblocking large privatization in order to attract sustainable investments into the Ukrainian economy,” Dmytro Sennychenko noted.

The Verkhovna Rada has already adopted in first reading the bill on unblocking large privatization. The State Property Fund calls on the MPs bring the matter to its logical conclusion and approve the bill in second reading.

If the bill is approved, as early as June 2021, we will be able to hold a privatization auction for one of landmark objects of this year –United Chemical and Mining Company JSC.

Among other large privatization object that will be privatized in 2021 are 6 oblenergos, the First Kyiv Machine Building Plant (Bilshovyk Plant) and President-Hotel.

“Privatization is a tool not only for replenishing the budget and reducing the volume of external loans. One of its important missions is the transfer of non-core assets to a private owner, giving such facilities a new life. After privatization, a new owner makes additional investments in the object, creating new jobs, a tax base and contributing to the recovery of economic as a whole,” Dmytro Sennychenko, Chairman of the Fund, summed up.