The corporatisation of the public sector and the implementation of international corporate governance standards at strategic companies for the state are opportunities to attract billions of dollars in investment in the economic recovery of Ukraine. This was stated by Oleksii Sobolev, Deputy Minister of Economy of Ukraine.

“Corporate governance is a globally understood system that will help make the work of state-owned companies more efficient and transparent. Clear management of state property has a positive impact on investment, as it increases investor confidence in state-owned companies. International financial institutions are ready to invest in state-owned companies with a clear management system,” said Oleksii Sobolev.

The basis for this is laid by the law improving corporate governance (draft law 5593-d).

According to the law, the powers of supervisory board members will be valid for at least three years, and the reasons for dismissal are clearly regulated. This significantly increases the predictability of public sector companies. Accordingly, trust in them is growing.

Oleksii Sobolev cited the example of Ukrenergo, which had no long-term projects with international institutions before corporatisation, but now has more than UAH 10 billion in long-term borrowings to quickly restore its networks even in times of war.