Reforming Ukraine's State Ownership Policy
The Ukrainian government has revised its State Ownership Policy, incorporating the principles and recommendations set forth by the Organisation for Economic Co-operation and Development (OECD). Key updates to the policy introduce timelines for classifying state-owned enterprises and establish a list of companies required to submit consolidated reports by 2025.
By December 31, 2026, the categorization of state enterprises according to the new policy must be completed. The specified list includes major entities such as:
- NEC "Ukrenergo"
- NAEK "Naftogaz of Ukraine"
- PrJSC "Ukrhydroenergo"
The policy also mandates that the necessity of retaining state assets will be reviewed at least every three years. Updated criteria for maintaining state ownership focus on ensuring national defense capabilities, securing energy independence, and managing natural monopolies effectively.
Measuring Policy Implementation Success
An evaluation framework has been introduced to monitor the effectiveness of the policy’s application, serving as a key metric within Ukraine’s plan for the Ukraine Facility. This initiative fulfills commitments made in the memorandum with the International Monetary Fund (IMF) and integrates best international practices developed through consultations with global partners.
This overhaul of the state ownership framework marks a significant milestone for Ukraine, aligning its governance with international standards and the obligations agreed upon with global financial organizations.
By adopting these updated classification principles, Ukraine aims to enhance transparency and improve management efficiency of state assets, contributing positively to the nation's economic stability. This reform is part of broader efforts to modernize Ukraine’s public sector governance in line with global expectations.