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Business supports updating legislation in the field of privatization

14/ 07/ 2021
  Today, July 14, the Verkhovna Rada Committee on Economic Development plans to consider draft law №4572, which proposes to update the Law of Ukraine On the State Property Fund of Ukraine and amend a range of codes in the context of privatization and lease of state and municipal property. And tomorrow the draft law will be put to a vote in the Verkhovna Rada. Experts from the European Business Association conceptually support the changes proposed by this draft law and are convinced that the activation of privatization processes can be a good stimulus for the development of various industries and the revitalization of state-owned enterprises. Meanwhile, earlier the EBA experts drew attention to the need to finalize certain provisions of this draft law. It will be recalled that the proposals of the EBA experts concern the following provisions: Improving the procedure for extending state property lease agreements; Improving the procedure for construction work on leased facilities (in particular, the implementation of their integral improvements) to invest in the development of public infrastructure; Strengthening guarantees for the protection of the rights and legitimate interests of investors who have invested in the development of state infrastructure; Improving the procedure of privatization of infrastructure facilities of domestic seaports; Improving the procedure for privatization of leased property (including the procedure for the current tenant to use his preemptive right in the process of such privatization). Also earlier, the EBA experts sent their proposals to the management of the State Property Fund and the relevant committees of the Verkhovna Rada, but we are forced to state that not all of them were taken into account. We hope that the deputies will support the changes aimed at reforming and improving the processes of privatization and lease of state property. For their part, the EBA experts are ready to participate in the further elaboration of the draft law to take into account the comments from practitioners - business representatives. Without the changes proposed by the Association, in our opinion, it will not be possible to achieve the expected positive changes.

Today, July 14, the Verkhovna Rada Committee on Economic Development plans to consider draft law №4572, which proposes to update the Law of Ukraine “On the State Property Fund of Ukraine” and amend a range of codes in the context of privatization and lease of state and municipal property. And tomorrow the draft law will be put to a vote in the Verkhovna Rada.

Experts from the European Business Association conceptually support the changes proposed by this draft law and are convinced that the activation of privatization processes can be a good stimulus for the development of various industries and the revitalization of state-owned enterprises. Meanwhile, earlier the EBA experts drew attention to the need to finalize certain provisions of this draft law.

It will be recalled that the proposals of the EBA experts concern the following provisions:

  • Improving the procedure for extending state property lease agreements;
  • Improving the procedure for construction work on leased facilities (in particular, the implementation of their integral improvements) to invest in the development of public infrastructure;
  • Strengthening guarantees for the protection of the rights and legitimate interests of investors who have invested in the development of state infrastructure;
  • Improving the procedure of privatization of infrastructure facilities of domestic seaports;
  • Improving the procedure for privatization of leased property (including the procedure for the current tenant to use his preemptive right in the process of such privatization).

Also earlier, the EBA experts sent their proposals to the management of the State Property Fund and the relevant committees of the Verkhovna Rada, but we are forced to state that not all of them were taken into account. We hope that the deputies will support the changes aimed at reforming and improving the processes of privatization and lease of state property. For their part, the EBA experts are ready to participate in the further elaboration of the draft law to take into account the comments from practitioners – business representatives. Without the changes proposed by the Association, in our opinion, it will not be possible to achieve the expected positive changes.

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