Chamber News (#6 June 2018)

Ukraine stands firmly on the Path of Privatization

On May 16 the American Chamber of Commerce in Ukraine  held the Round Table “Ukraine on the Path of Privatization” jointly with Chamber Member Company
INTEGRITES. The event was moderated by Dr. Oleksiy Feliv, Managing Partner of
INTEGRITES, Co-Chair of the Chamber Infrastructure Committee.

The aim of the event was to discuss the current state of privatization reform as well as identify further steps that are important for improving the investment climate and simplifying the privatization process.

The participants discussed the following issues: the state of the development of bylaws for the full implementation of the Law of Ukraine On Privatization of State and Communal Property; the expectations of investors on the implementation of privatization reform; privatization in the eyes of International Financial Institutions and private investors; the interest of foreign investors in state-owned enterprises on the Privatization List, approval of the list of strategic enterprises that cannot be privatized.

Among keynote speakers of the panel discussion were: Andy Hunder, President of the American Chamber of Commerce in Ukraine, Sevki Acuner, Country Director for Ukraine, European Bank for Reconstruction and Development, Vice Chairman of the Board of Directors of the American Chamber of Commerce in Ukraine; Volodymyr Omelyan, Minister of Infrastructure of Ukraine; Vitaliy Trubarov, Acting Head of the State Property Fund of Ukraine; Maxym Nefyodov, First Deputy Minister of Economic Development and Trade of Ukraine; Yuliia Kovaliv, Head of the Office of the National Investment Council under the President of Ukraine.

“A transparent privatization process is a powerful signal to investors. The American Chamber of Commerce in Ukraine supports the open and transparent reform of state-owned enterprises. Accelerating this process is crucial for Ukraine's economic growth and investment attractiveness. This will help increase the efficiency of state-owned enterprises, create new jobs, increase revenues coming into the state budget, and eliminate corruption”, commentedAndy Hunder.

“Currently, simple and effective privatization is one of the priorities on the Ukrainian agenda, which is homework for us as for further integration into the world economic space. Therefore, one of the 5 Steps for Ukraine’s Sustainable Economic Recovery developed by the American Chamber of Commerce in Ukraine is to carry out for qualitative implementation of privatization reform. The new Law of Ukraine
On Privatization of State and Communal Property, which came into force on 7 March is very progressive. It is aimed at real large-scale privatization of public facilities and aims to attract large international investors.
The advantage of the Law is the introduction of clear and simple rules of privatization and subordination of agreements on privatization of foreign law and international arbitration, which is undoubtedly a big step forward that should improve the investment attractiveness of Ukraine,” said Dr. Oleksiy Feliv.

The Chamber Infrastructure Committee has been operating successfully for many years within the Chamber, with the main mission being to define transparent and beneficial mechanisms of interaction and cooperation for the participants of economic activity in the infrastructure field and for the state in general.

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