On April 19, the Chamber held a Panel Discussion "Privatization: Investment Outlook for Ukraine" focused on current status and strategy of the Government of Ukraine regarding privatization process in Ukraine as well as key aspects of legislative regulation in the sphere.
Opening the meeting, Andy Hunder, Chamber President, stated that coordinated governmental assistance in support of privatization process, enhancing the investment climate will help Ukraine to successfully implement comprehensive reforms agenda. Mr. Hunder emphasized that defining governmental strategy in regard to state owned assets, including privatization, concession, lease, public-private partnerships, management contracts, strategic management of state owned assets which are not subject to privatization, should be priority for the Government as well as its proper communication both to investors and citizens. According to Chamber President, the Government should ensure transparent and clear investment process and conduct pilot projects in respective spheres.
Oleksiy Feliv, Head of the Chamber Real Estate Working Group, Managing Partner of INTEGRITES, encouraged the participants to have a productive discussion as well as highlighted that business community is waiting for acceleration of privatization processes and adoption of amendments to concession legislation.
Volodymyr Omelyan, Minister of Infrastructure of Ukraine stated that amending the Law “On Concession” is critical for bringing private investments. He noted that in cooperation with the European Bank for Reconstruction and Development the funding was obtained to bring international legal experts for providing technical assistance in drafting legislation and making recommendations for the most effective way of implementing concession legislation. Mr. Omelyan informed that in 2 weeks there will be an announcement of a tender by EBRD for technical assistance from an international law firm to assist in drafting amendments to concession legislation.
Yuliya Kovaliv, First Deputy Minister of Economic Development and Trade of Ukraine emphasized that the Ministry for the fifth time will submit to the Verkhovna Rada of Ukriane the Draft Law regarding reduction of quantity of state enterprises which are not subject for privatization.
Ihor Bilous, Chairman of the State Property Fund, informed that the privatization process is in active stage now, namely – Odesa Portside Plant. The tender for its privatization will be announced at the end of May 2016 and will be performed at the end of June 2016. Mr. Bilous expects that at the end of July, privatization of Odesa Portside Plant will be finished.
William Laitinen, Economic Counselor, Embassy of the United States of America and Marina Petrov, Deputy Director in Ukraine, European Bank for Reconstruction and Development shared their expectations regarding the privatization process in Ukraine, namely importance of its acceleration and establishing clear and transparent procedures for investors.