The government has obliged state enterprises to disclose finances: what will become public

The government has approved a new procedure for disclosing information about the activities of state-owned enterprises and economic associations. This was announced by the Ministry of Economy, Environment and Agriculture.

The document concerns enterprises in which the state owns more than 50% of shares (stakes), as well as associations where 50% or more of the shares belong to companies that are 100% state-owned. According to the resolution, the periodicity and deadlines for disclosing information about the activities of such enterprises will be clearly defined.

'We are opening to the public information that was previously restricted. This is a new level of transparency and accountability for state companies — and an important step towards building trust between the state, business, and citizens,' emphasized Anna Artemenko, Deputy Minister of Economy, Environment, and Agriculture of Ukraine.

Enterprises will be required to publish various information about their activities on their own websites or on the website of the management entity, including a list of obligations, internal regulations, management reports, and more. The list of enterprises that are not subject to these requirements will exclude operators of critical infrastructure, enterprises of the defense-industrial complex, and those that belong to the sphere of management of the Ministry of Defense.

The Government of Ukraine has adopted a new procedure for disclosing information about the activities of state enterprises, aimed at ensuring a higher level of transparency and openness in socio-economic relations. The stated rules apply to enterprises with state participation in the authorized capital and require them to publicly disclose important information about their activities.