Poroshenko explained why Ukraine needs privatization

Privatization will allow Ukraine to attract foreign investment and efficient owners. This was during a meeting of the national Council reforms, said the President of Ukraine Petro Poroshenko.

According to him, successful privatization will accelerate the economic growth of Ukraine and will reduce corruption in the public sector.

“Privatization is important not only money, but also finding effective owners, which will ensure the growth of the economy”, – said Poroshenko, noting that the growth of direct foreign investment “we need air”.

“The time when we survived only by bringing loans over… Privatisation is an important element of the anticorruption strategy of Ukraine”, – said the President.

During the meeting, the national Council of reforms has supported the privatization bill approved by the Cabinet on 4 July.

Privatization – head ciogodnichnyu theme of the meeting was for National reforms. pic.twitter.com/2aVWdm8Oek
— Petro Poroshenko (@Poroshenko) 12 September, 2017 R.

Privatization is important not only Hiroshima, and th porukom effective of vlasnika, that to zabezpechiti zrostannya economy. pic.twitter.com/1CdytNn2f9
— Petro Poroshenko (@Poroshenko) 12 September, 2017 R.

Zrostannya pryamih nazemnyh investici potribni us Yak air. Hour, if mi was vyzyvali lachey on zaluchennya credits – zavershilsya.
— Petro Poroshenko (@Poroshenko) 12 September, 2017 R.

Privatization , valuim element antikorupcinio strateg Ukraine. About TSE, in particular, speak Sadan for National reforms. pic.twitter.com/OuaRjAoECK
— Petro Poroshenko (@Poroshenko) 12 September, 2017 R.

As you know, a draft law on privatization provides for the regulation of the privatization law (the 7 laws), which will be only two types of objects of privatization (instead of 5) – large and small.

Instead of the five procedures of privatization are requested to leave two to the auction and redemption.

Major objects of privatisation will be sold exclusively with the participation of reputable advisors, and small – through the electronic marketplace Prozorro.

While the challenge of privatization will be possible within 3 years after its implementation only in international arbitrations. In addition, privatized objects will be imposed a moratorium on the bankruptcy.

Privatization conditions should be approved by the Cabinet and may include the auction conditions, the auction without conditions.

In the absence of a buyer the opportunity of lowering the price of the object at 25% -50%. Also privatization to be possible through the study of quotations.

We will remind, Ukraine is preparing the legal framework to the privatization of the state enterprise “Ukrspirt” and relies on the sale of Odessa portside plant.