Economy Ministry satisfied with results of privatization: three times more collected than planned
Ukraine's Ministry of Economy has reported a successful year for privatization in 2024, generating three times more revenue than planned, according to Minister Yulia Svyrydenko in an interview with LIGA.net.
"2024 was a record year both in terms of revenue from privatization and the scale of the objects sold by the state. We were able to find new owners for the Ukraina hotel, the United Mining and Chemical Company, and the first sanctioned asset—the Aeroc plant. The total revenue from privatization, both large and small-scale, reached nearly 12 billion hryvnias ($286 million). This is three times more than we planned at the beginning of 2024," Svyrydenko said.
According to the state ownership policy, only 100 enterprises should remain under state control, so privatization will continue.
The Ministry of Economy also expects to sell assets confiscated from Russian owners following the start of the full-scale war.
"We already have a successful example with the Aeroc plant. This enterprise is a ready business, one of the leading producers of aerated concrete products in Ukraine. The activities of its Russian owners posed a threat to national security. Now, the funds from the sale of the plant, almost 2 billion hryvnias ($48 million), will be directed to the Fund for the Liquidation of the Consequences of Armed Aggression," Svyrydenko explained.
Next in line for privatization are the Demurinsky Mining and Processing Plant, the Ocean Plaza shopping center in Kyiv, and Motordetail-Konotop.
"For years, Russia has been establishing control over strategic enterprises, using them for its own interests. This is unacceptable, especially during wartime. The key task for the Ukrainian government is to preserve the operation of these enterprises but change their owners, as well as preserve jobs and attract investments," Svyrydenko added.
The absolute record for privatization in Ukraine was set in 2005 with the privatization of Kryvorizhstal for over 24 billion hryvnias ($4.6 billion).
