The government hopes to sell off a range of companies to fund the military and stabilize the economy as the grueling conflict with Russia drains its coffers.
www.nytimes.com
Ukraine plans to privatize their state assets to get money for the war efforts. This privatization effort is quite big, from about 3,100 state owned companies they have, many are poorly managed and debt-ridden companies inherited from the Soviet era, less than half actually operating and only 15% are generating profits, to the ultimate goal of government only control 100 companies.
They are realistic about the situations. They are a country in war, which means low demand for the things that they offers. Their target only to sell $100 million worth of assets minimum for this year, only small fraction from multibillion dollars foreign aid.
But many also fears potential corruption on this privatization effort, which Ukraine even since before 2022 Russian invasion is already known for its corruption.
One of the biggest assets for sale is United Mining and Chemical Company, one of the world’s largest titanium producers. It is actually up for sale for three times even before 2022 Russian invasion, but they hope to successfully sell it this fall, with seven investors expressed their interest, with the minimum start price of 100 million USD.
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