The first success of large-scale privatization and record budget revenues - Dmytro Sennychenko at an economic conference in London

On December 9, 2021, Dmytro Sennychenko, during his participation in the Economic Conference Ukrainian Investment Roadshow in London, Great Britain, spoke about the first success over the last 16 years of large-scale privatization and other achievements of the State Property Fund.

According to Dmytro Sennychenko, the team of the State Property Fund has implemented tools for transparency and openness in privatization. This allowed to hold more than 3,500 privatization auctions for a record amount, which exaggerates revenues for previous years.

"In 2020-2021, the State Property Fund held thousands of online auctions worth more than $ 300 million, for comparison, this is more than seven previous years taken together," - Dmytro Sennychenko stated.

He also noted that due to the negative experience of privatization from the past, when state-owned objects were alienated in an opaque way, the State Property Fund is forced to break down stereotypes, in practice proving that privatization today is transparent and accessible to all potential investors.

If earlier information about privatization auctions was the subject of shadow schemes, today all information about privatization assets is published in virtual data rooms on a privatization.gov.uaspecial website, on the principle of "everyone knows everything". In addition, the State Property Fund carries out effective marketing among business associations, attracting competent investors to participate in auctions.

"A significant indicator of the effectiveness of the State Property Fund is the return of investor confidence, which is reflected in the number of participants at auctions. Today, on average, 5 participants participate in the bidding, and in some auctions 10 and 20. But the most important thing is the new life of abandoned state assets due to transparent privatization," Chairman of the State Property Fund explained.

He also focused on the historical event in the field of privatization:  the first successful auction for the privatization of JSC "First Kyiv Machine-Building Plant" over the past 16 years, with the result of more than UAH 1.4 billion.

"The State Property Fund provided the preparation of the former plant, which turned into a ruin almost in the center of the capital of Ukraine. Thanks to the work of the group of reputational companies, comprehensive audits were carried out and the market price of this object was determined, and according to the auction results, UAH 1.429 billion has already been sent to the budget, - Dmytro Sennychenko said.

Chairman of the Fund noted that the list of large-scale privatization objects contains promising assets for large-scale investments, and the existing political will for transparent privatization creates unique opportunities for international investors.