At a meeting on February 21, the Cabinet of Ministers approved the Procedure for holding electronic auctions during large-scale privatization. According to Prime Minister Denys Shmyhal, the process will become more transparent, competitive and efficient.
“The Government continues to reform corporate governance and privatization. Since the beginning of the year alone, the state has raised UAH 747 million through open auctions as part of the so-called small-scale privatization, and entrepreneurs from all over the country have received opportunities to develop their business,” the Prime Minister said.
According to Denys Shmyhal, the reduction of the state’s role in the economy implies that the private sector should be the driver for recovery and growth, and the state should only be its reliable support. The Prime Minister noted that privatization, along with digitalization and deregulation, were key elements of the Government’s anti-corruption strategy.