The Head of the Ukrainian Government called on French business to participate in the privatization of Ukrainian enterprises and announced the resumption of the Joint Ukrainian-French Intergovernmental Commission on Economic Cooperation.

The Prime Minister of Ukraine Denys Shmyhal met with representatives of the French business community on Friday, July 10.

The following officials were participating in the meeting: Minister of Economic Development, Trade and Agriculture of Ukraine Ihor Petrashko, Minister of Internal Affairs of Ukraine Arsen Avakov, Ambassador Extraordinary and Plenipotentiary of the French Republic to Ukraine Etienne de Poncins, President of the French-Ukrainian Chamber of Commerce and Industry (CCIFU) Bertrand Barrier and other representatives of French business circles in Ukraine.

Addressing the participants of the meeting, Denys Shmyhal stressed that the relations between Ukraine and France have a special character - French business is one of the largest employers in Ukraine and a major investor, and Ukraine is interested in intensifying cooperation with French businesses. "We need to discuss ways to enhance Ukrainian-French cooperation in the economic sphere with the involvement of your companies combined with the opportunities that the state of Ukraine can provide in terms of business and investment support," said the Head of the Ukrainian Government.

Moreover, Denys Shmyhal stressed the importance for Ukraine to cooperate with France as one of the most powerful economies of the European Union and a member of the Normandy Format, and the special role of the Joint Ukrainian-French Intergovernmental Commission on Economic Cooperation as an instrument of intergovernmental cooperation. "Unfortunately, through the COVID-19 coronavirus pandemic, its eighth meeting, scheduled for March 13, 2020 in Paris, had to be postponed. I believe that as soon as the epidemiological situation is favourable, the Commission will gather and continue its work, in particular on the development of those projects and areas that have already been launched," said the Prime Minister.

Denys Shmyhal also assured that Ukraine’s course towards European and Euro-Atlantic integration remains invariable, as also Ukraine’s commitment to systemic reforms, the implementation of which, Denys Shmyhal assures, will have a positive impact on the conditions of work for the French business in Ukraine. "The authorities of Ukraine have a keen interest in attracting business, in constructive dialogue and in creating the most favorable conditions for business," the Prime Minister of Ukraine emphasized.

During the meeting, representatives of French business community had the opportunity to discuss with members of the Ukrainian Government topical issues of investors activities in Ukraine and hear the answers to their questions.

Apart from that, the interlocutors focused on the possible participation of French business in the privatization of state-owned Ukrainian enterprises. "By now, the State Property Fund of Ukraine has prepared about 400 small and medium enterprises for privatization. Such privatization process has already triggered and is underway," the Head of the Government told. "Today we are standing on the threshold of large-scale privatization. We didn’t rush the process expecting the market situation to improve. Large-scale privatization will begin with one of the major facilities, the Dnipro Hotel, and about 10 large enterprises may be offered for privatization this year."

In addition, Denys Shmyhal informed the participants of the meeting that he expects the Verkhovna Rada to appoint a Deputy Prime Minister for Strategic Industries next week. According to the Prime Minister, the relevant proposal has already been submitted to the Verkhovna Rada. "The Ministry of Strategic Industries will also be established, thereby definitely having a positive impact on the development of the economy and investment climate in Ukraine," stressed Denys Shmyhal.

In turn, the Ambassador Extraordinary and Plenipotentiary of the French Republic to Ukraine Etienne de Poncins thanked Denys Shmyhal for the opportunity to have a dialogue with the Ukrainian Government and assured that French business is interested in investing more in the Ukrainian economy.