A fair and
transparent privatization under the new
legislation allows to sale non-strategic
assets to new owners, who
in turn will
bring new technologies, create new jobs, produce
products, pay taxes to the
Ukrainian budget, and, consequently, change the economy
type from based on raw
materials to that based on
added value, announced Prime Minister of Ukraine
Volodymyr Groysman on air of
the ICTV channel.
have a resource-based economy.
Moreover, we are currently shaping
a number of programs to change
this model. For example,a privatization.
We will sell
(assets) at open auctions, we will attract
investments as well as technologies.
We also kick
off an installment
program for paying some taxes
(primarily VAT), whilst
upgrading equipment. We are interested
in creating new working places,
paying taxes and salaries here,"
the Head of Government stressed.
On January 18, Parliament
approved Government's bill on privatization
of state property drafted in line with
the best international practices and norms of
the English law. The document
was included in the package
of the much-needed legislative initiatives aimed at developing of
the economy and changing of
the structure of industry in
Ukraine. The draft law determines
criterions, terms and mechanisms for conducting large and small
privatization, singles out the issues
of bankruptcy of companies and
protection of investors, defines the principles of the functioning
of the Advisor
Institute, the evaluation of property
and the determination
of its starting
price. The said document envisages
a procedure of establishing of ownership rights and control over
the implementation of investment obligations.
A landmark innovation of the document
is the definition
of the dispute
procedure, which enables the possibility
of appeal to the International
Commercial Arbitration Court and the
conduct of the case following
the principles of the English