22 February 2019

New conditions for business development

In order to increase the efficiency of using state-owned objects and create additional conditions for the development of private property and entrepreneurship, amendments are made to the Decree of April 28, 2015 “On measures to increase the share and significance of private property in the economy”.

About 300 state stakes in companies will allow to be sold to all investors, and not just strategic, from the new Presidential Decree “On Additional Measures for the Effective Use of State Property” dated February 19, 2019.

Wording such as “strategic investors” will be replaced by “private investors, including foreign ones”, and the phrase “primarily to foreign investors” will be excluded.

Thus, they will be allowed to sell the listed state shares to all private investors, regardless of whether it is a portfolio or a strategic one.