The Ukrainian government has set an ambitious target to generate approximately 13 billion hryvnias (around $350 million) this year through the privatization of state assets, according to Prime Minister Yulia Svyrydenko.
Svyrydenko indicated that the government anticipates 10 billion hryvnias from large-scale privatization and an additional 3 billion from smaller assets. She emphasized that this goal was discussed and approved in a meeting with the Ministry of Economy and the State Property Fund.
Among the assets slated for privatization is the Ocean Plaza shopping center, previously owned by a Russian oligarch and transferred to state ownership under the sanctions law. The government plans to auction this property in the third quarter of the year, with an estimated market value of around $100 million.
Since the beginning of the year, the government has already raised over 1 billion hryvnias from small-scale privatization efforts and continues to sell prepared assets.
Svyrydenko noted that proceeds from these sales, particularly from sanctioned assets, will be directed to the recovery fund, which is intended to support the rebuilding of the country and assist individuals affected by the ongoing conflict.
Earlier this year, the government announced a simplification of the process for selling sanctioned property belonging to Russian citizens that has been confiscated and is now in state ownership, facilitating its sale at public auctions.
The Ukrainian government is pursuing a significant privatization initiative aimed at raising funds for recovery efforts amid ongoing conflict. This includes the sale of high-value assets like Ocean Plaza, with proceeds directed towards rebuilding and support for those affected by the war.