Ukraine loses $6 billion a year to corrupt managers of state companies,
Mikheil Saakashvili, Chair of the National Reform Council, estimated in his Kyiv Post column. Ukraine has 3,500 state companies – 63 times more than neighboring Poland and 76 times more than Sweden. To prepare a state-owned company for sale, the State Property Fund needs 11 months to prepare 70 documents. To streamline the process, Saakashvili’s Office of Simple Solutions and Results and the Property Fund has submitted legislation to the Rada to cut the red tape.