Ukraine is actively privatizing state-owned enterprises to replenish its budget

The State Property Fund sold the assets of the “Elektropobutprylad” plant in Chernivtsi. During the auction, the asset’s value nearly doubled from ₴11.14 million to ₴20.17 million. The winner was private entrepreneur Serhiy Akhremenko, who heads the company “Slavtelecom,” which operates in the telecommunications sector.

“Elektropobutprylad” is located in a convenient area with developed logistics and has great potential for development. Part of the property is already leased, providing the new owner with a stable income.
Additionally, one of the last major state-owned alcohol plants, the “Lokhvytskyi Alcohol Plant” in Poltava, was sold at auction for over ₴14 million. The new owner will be the local company “Agro-Sontse,” which specializes in chemical production.
The head of the State Property Fund, Vitaliy Koval, noted that the privatization of state enterprises is an effective way to replenish the state budget and finance defense forces. The main goal of privatization is to attract private investments into the economy.
Currently, for every hryvnia spent on privatization, there are four hryvnias of investment in equipment and jobs. Funds from the sale of sanctioned assets are directed towards the reconstruction of Ukraine.

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