Ukraine has approved a state property policy to improve state asset management and attract investment.

According to Minister of Economy Yulia Svyrydenko, the new property policy defines the state’s role in managing state-owned companies, outlining which are strategically crucial for the country and what tasks they should perform. This document introduces high corporate governance standards in the public sector.

Together with the state property policy, a clear and transparent remuneration policy for managers and supervisory board members of state-owned companies and a dividend policy is being introduced for the first time. These measures will increase the efficiency of state asset management and attract investment.

It is also planned to optimize the portfolio of state assets, particularly the privatization or liquidation of enterprises that are not strategically important. Modern corporate governance standards based on OECD principles will also be introduced that provide for the creation of independent supervisory boards.

Adopting a state property policy is one of the key elements of the Ukraine Plan for the Ukraine Facility and an essential component of the memorandum with the IMF.