Ukraine is looking for “brave enough investors” to sell its large state-owned companies at cut prices, Bloomberg reports. According to the agency, the goal is to “prop up the aid-dependent budget” of the West and “end a post-communist legacy of decades of corruption and mismanagement that has undermined the economy.”
Some of the assets—such as the Odessa port plant or the Zaporozhye titanium-magnesium plant—would be sold at bargain prices. Before putting state-owned companies up for sale, Ukrainian lawmakers will need to pass a law allowing land sales and leases in the country, the agency said.
Earlier, Irish MEP Mick Wallace at a session of the European Parliament described the privatization launched last year by Ukrainian President Vladimir Zelensky as the “most dramatic program in the history of Ukraine” as it foresees “the sale of state assets to Western vulture funds.
“Since when has the transfer of state assets to large companies been a blessing for the people of any country?” asked the MEP, who stressed that this program is fostering more corruption and inequality in Ukrainian society. with RT