The 44th meeting of the OECD Working Party on State Ownership and Privatisation Practices took place on 19-20 March in Paris, where representatives of the Ministry of Economy of Ukraine presented achievements in the field of state property management and shared reform plans for 2025.

“For the first time, Ukraine is participating in the OECD Working Party not just as an observer, but as a country implementing systemic reforms in state property management in line with international standards. Last year, we made an important step forward by adopting the Law on Improving Corporate Governance and the State Property Policy. These are two key documents that lay the foundation for the reform of state-owned companies. This year, we are actively continuing this work,” said Taras Kachka, Deputy Minister of Economy and Trade Representative of Ukraine.

What has been done so far?

In 2024, Ukraine:

• determined the list of state-owned companies where independent supervisory boards will be established;
• compiled a list of companies to be transformed into joint stock companies or limited liability companies;
• conducted triage of state-owned enterprises, determining which companies will remain in state ownership and which will be subject to privatisation or liquidation.

Next steps in the state property management reform in 2025

The Government of Ukraine is focusing on seven key areas:

• Improving the law on corporate governance and state property policy – filling gaps in legislation in line with international standards.
• Reform of the Nomination Committee – improving the selection of independent members of supervisory boards and the appointment of state representatives.
• Addressing privatisation issues – updating legislation and developing a partial privatisation concept.
• Establishment of supervisory boards and evaluation of their performance – at least three supervisory boards should be established by the end of 2025: the supervisory board of the State Enterprise "Forests of Ukraine" is already in place, and the next steps are Ukrainian Danube Shipping Company and Ukrzaliznytsia.
• Implementing the roadmap on special obligations of state-owned enterprises (SOEs) into legislation.
• Developing legislation on a centralised management model for state-owned enterprises.
• Developing rules for dealing with sanctioned assets.

Ukraine’s participation in the OECD Working Party confirms that the reform of state property management is in line with the best international practices. The introduction of transparent rules for managing state assets and improving corporate governance is a key condition for attracting investment in the public sector and its development.