State Enterprise 'Forests of Ukraine' becomes a Joint Stock Company: what will change for the industry

The Government of Ukraine has made important decisions for the further development of the forestry sector. The State Enterprise 'Forests of Ukraine' is becoming a joint-stock company while retaining state ownership of all shares. This is expected to positively impact the effectiveness of management and the competitiveness of the enterprise.

In connection with the current conditions related to the war, forestry management has been extended to ensure the stable operation of forestry enterprises. A pilot project for an electronic cabinet for exporters has also been launched, which will facilitate the confirmation of the legality of timber origin when exported to the European Union.

The updated Operational Plan until 2035 envisages improving the forest management system, creating a digital infrastructure for optimizing forest management, and implementing a number of reforms based on European standards. This is aimed at ensuring the sustainable development of the forestry sector in Ukraine.

The Government of Ukraine has decided to transform the state enterprise 'Forests of Ukraine' into a joint-stock company to enhance the efficiency of forest management. New projects have also been announced to support forestry management and timber export, contributing to the development of the sector and Ukraine's image in the international market.