The State Property Fund and the All-Ukrainian Taxpayers Association concluded the Memorandum of cooperation

On March 24, Dmytro Sennychenko, Chairman of the State Property Fund of Ukraine, and Grigol Katamadze, President of the All-Ukrainian Taxpayers Association, signed the Memorandum of cooperation.

The purpose of the Memorandum is to cooperate in attracting investment in the Ukrainian economy and creating a favorable environment for business development in Ukraine.

According to Dmytro Sennychenko, the main purpose of the State Property Fund is transformation of unproductive assets into productive ones by attracting competent investors via privatization of non-core objects at online auctions.

“Cooperation between the State Property Fund and the All-Ukrainian Taxpayers Association can significantly affect the economic situation in Ukraine, for production development, investment attraction and creation of new jobs. We need to move Ukraine together to economic recovery!” – Dmytro Sennychenko stated.

During the event, Dmytro Sennychenko also presented to the participants the comprehensive draft of law “On Facilitating Investment Attraction During the Process of the State and Communal Property Privatization and Lease”, developed with the aim to attract sustainable investment via privatization, simplification of privatization and lease procedures, as well as to restore investors’ confidence and ensure the state interests.

Chairman of the State Property Fund focused on the main tasks that the draft of law will complete, as follows:

·        improves the processes of state property privatization and lease to attract investment: more transparency, clear rules and increase the number and quality of objects for putting at electronic auctions transparently;

·        reforms the State Property Fund to reduce corruption risks and be able to qualitatively implement the tasks;

·        introduces targeted use of funds from privatization, including for the development of communities where privatized state-owned facilities are located, and for the state-owned enterprises  management improvement;

·        introduces effective control over the efficient use of state property.

Dmytro Sennychenko emphasized the importance of supporting this initiative by business community and potential investors who are interested in establishing transparent and fair legislation, following the best world practices.