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The Chairman of the Verkhovna Rada of Ukraine Andrii Parubii signed a new law on privatization

On February 8, 2018, the Chairman of The Verkhovna Rada of Ukraine Andrii Parubii signed the Law on the Privatization of State Property (No. 7066). After this, the law was refeferred to the Head of the State for signature.

The law was passed by Parliament on January 18, 2018, to simplify the privatization process and increase its transparency and efficiency.

As the Chairman of the State Property Fund Vitalii Trubarov noted, a large team from the Fund, the Cabinet of Ministers, public organizations, and international partners worked over the law. There was held a series of round tables, discussions at the parliamentary committee, factions, received hundreds of amendments from deputies - and as a result we received the law , which significantly simplifies privatization, reduces the timing of filing, makes its rules transparent and understandable for investors.

"We want not just to sell, but we want the most effective investors to come," he emphasized.

Recall, that the law simplifies the classification of privatization objects by division into small and large privatization objects. The small privatization group includes real estate objects, small enterprises, and the large privatization group includes objects whose assets exceed UAH 250 million. Also, the term of preparation for the sale of objects is shortened and the deadline for submitting applications for potential buyers is increased. It has been established that in case of large privatization, international advisers will be involved, and the small privatization will be held on e-auctions.