State Property Fund raises UAH 1B from privatization this year

State Property Fund raises UAH 1B from privatization this year

Ukraine's State Property Fund has already held 81 privatization auctions this year and attracted UAH 1 billion from private investors. Some 65% of the funds have already been transferred to the state budget.

That's according to the fund's press service, Ukrinform reports.

"The first billion [hryvnias] is a signal to businessmen that our country, despite the war, is an attractive place for investment. New investments in state property are an important step in ensuring the sustainable development of the country's economy," said Rustem Umerov, the head of the State Property Fund.

In total, since the beginning of the year, 468 entrepreneurs have competed for state property at privatization auctions. As a result, the total winning price reached UAH 1.038 billion. This exceeds the total starting cost by almost six times.

In February 2023, the Verkhovna Rada adopted at first reading draft law No. 8250, aimed at improving the management structure of the State Property Fund.

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