State Property Fund to leave only 107 companies in state ownership
Photo: SPFU

The Cabinet of Ministers is going to propose to the Verkhovna Rada a list of 107 state-owned companies that will not be subject to privatization. Almost all of them will be united in the Sovereign Wealth Fund, Interfax-Ukraine agency cites the acting head of the State Property Fund Oleksandr Fedoryshyn.

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"The Ukrainian sovereign wealth fund will unite key strategic companies under its umbrella, we identified them for ourselves – these are 76-77 companies," he said at a conference in Kyiv.

According to him, the Ukrainian sovereign wealth fund will be analogous to the Norwegian pension fund, which manages 74 state-owned companies, while there are still 1,600 state-owned enterprises in Ukraine.

The acting head of the SPFU said that at one of the last meetings with the Ministry of Economy, 107 companies were determined as a result of the triage, which are not subject to privatization. In order to establish this, a corresponding draft law is being prepared.

"We are focusing directly on this list, we will ask you to join the discussion so that these companies can potentially enter the management by the Ukrainian sovereign wealth fund," Fedoryshyn said.

A sovereign-wealth fund is a state investment fund whose assets may include shares of state or public companies, bonds, property, precious metals, and other assets.

Currently, there is no list of state-owned companies in Ukraine that are not subject to privatization. The previous edition, which included more than a thousand enterprises, was declared invalid by the parliament in October 2019, and the new one did not pass the first reading.

At the same time, the list of property and objects that cannot be privatized, as well as the criteria by which this cannot be done, are set out in the law on privatization of state and communal property.