Ukraine may unblock large-scale privatization in May - Chairman of the SPFU said in interview with Bloomberg

Rustem Umerov, Chairman of the State Property Fund of Ukraine, in an interview with Bloomberg said that Ukraine could unblock large-scale privatization as early as May this year. The SPFU is waiting for the lawmakers to make a decision at the next parliamentary session in May.

The range of assets being offered for sale by the SPFU is quite broad: fertilizer producers, energy companies, and steel plants.

“If we don’t sell them this year, then next year their only value will be real estate, and in the following year, just the land they stand on,” Rustem Umerov said.

Chairman of the SPFU assures that in the future these investments will bring investors a 20-fold return.

Bloomberg also mentioned that the SPFU expects lawmakers to pass other legislations that will allow the Fund to lease state agricultural land at transparent online auctions through the Prozorro.Sale system. The adoption of this law could bring at least UAH 7 billion to the budget annually.

"There are emerging markets and there is an emergency market, and as an emergency market, Ukraine is one of a kind," said Chairman of the SPFU.